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PLN Batubara Investasi takes over Sriwijaya Bara and Mitra Musi

14 January 2019 07:27 AM  Company: PT. Atlas Resources Tbk[ARII]
Rp. 800  0 (0%)

JAKARTA - PT PLN Batubara Investasi, a company controlled by PT Atlas Resource Tbk (ARII), has taken over 25.60% stakes in two companies, PT Sriwijaya Bara Logistics (SBL) and PT Mitra Musi Jaya (MMJ). Through company synergy, the performance of SBL and MMJ is expected to increase.

ARII Director Lidwina S. Nugraha said that PLN BBI has a special port for coal and MMJ has transportation routes from mining to the port. "The business prospects of SBLL and MMJ will be better through synergy," she said as quoted from the company's information disclosure.

PT Sriwijaya Muba Logistic (SML) and PT Aquel Pratama Indonesia (API) control PT Atlas Resource. The two companies owned by SBL with 74.18% and 0.22% stakes respectively. Also, two companies are owned by MMJ with ownership of 99.99% and 0.01% of SML and API respectively.

The takeover of shares will have an impact on the company's status which is classified as MMJ into the series A shares owned by SML and API as well as the B series owned by PLN BBI. The percentage of ownership becomes SML (73.81%), API (0.59%), and PLN BBI (25.60). (LK/MS)

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