Sunday, November 21, 2010

Bumi Serpong complete acquistion this year

PT Bumi Serpong Damai expects its two corporate actions, shares acquisition and stocks inclusion valuing IDR4.36 trillion in two companies to be completely finalized by the end of this year. Shareholders of Bumi Serpong Damai approved a company plan to sell 6.56 billion new shares at IDR760 in a rights offer.
The company has earned an approval from its shareholders to acquire 85.3% shares or 1.58 billion shares of PT Duta Pertiwi, valuing IDR3.47 trillion.
Bumi Serpong also hold stocks inclusion in two companies, namely PT Sinar Mas Wisesa and PT Sinar Mas Teladan. The shares inclusion in Sinar Mas Wisesa valued IDR387.1 billion while the inclusion in Sinar Mas Teladan (SMT) amounted IDR500.9 billion. By acquiring the new shares issued by SWM and SMT, Bumi Serpong is now controlling 55% shares of SMW and 60% shares of SMT.
This year, Bumi Serpong Damai eyes to book IDR1.4 trillion of sale figure as it also seeks to record IDR360 billion net income.

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