JAKARTA – PT Chandra Asri Pacific Tbk (TPIA) has expanded its business portfolio by acquiring a 51% stake in PT Marina Indah Maritim (MIM) from PT Buana Primatama Niaga (BPN).

Erri Dewi Riani, General Manager of Legal & Corporate Secretary at TPIA, stated that the acquisition of BPN’s shares in MIM was conducted through two of its subsidiaries: PT Chandra Daya Investasi (CDI) and PT Chandra Samudera Port (CSP).

“A total of 2.67 million shares held by BPN in MIM were transferred,” she said in a disclosure to the Indonesia Stock Exchange, quoted Thursday (17/4).

According to her, the transaction will strengthen the company’s business position going forward.

Before the transaction, MIM’s shareholding structure comprised 51% held by BPN and 49% by CDI out of a total of 5.23 million shares. Following the deal, CDI now owns 99.99% and CSP holds 0.01% of the shares. TPIA owns 70% of CDI directly, while CSP is indirectly owned by TPIA through CDI, with a 69.9% stake.

Over the past week, TPIA shares have risen 10.78% to IDR 7,450 apiece as of 10:00 AM on Thursday (17/4). (LK)