JAKARTA - PT Indal Investindo (II), a subsidiary of PT Indal Aluminum Industry Tbk (INAI), took over all shares owned by UACJ Corp Japan and Toyota Tsusho Corp in PT UACJ-Indal Aluminum (UIA). This was conveyed by Ariawan Wiradinata, Corporate Secretary of PT Indal Aluminum Industry Tbk (INAI) in an information disclosure quoted on Tuesday (23/3).
Ariawan conveyed that the previous structure of share ownership in UIA was 40 percent in II, UAC Corp Japan 55 percent, and Toyota Tsusho Corp. 5 percent. "The transaction was carried out late last year (23/12) with a transaction value of US$ 4.32 million," he said.
After the transaction, INAI's management changed UIA's name to PT Indal Reiwa Auto (IRA) and its financial statements were consolidated in INAI's Financial Statements through its subsidiary, II. All transactions in the sell and purchase agreement were concluded yesterday (19/3). (LK/LM)