PT Alam Sutera Realty Tbk is seeking IDR600 billion loans to acquire PT
Garuda Adhimatra Indonesia, a developer of tourism areas.
The company needs IDR812.65 billion to acquire 90.3% shares from Garuda Adhimatra or totaling to 41,862 shares. As the first stage, it has paid a down payment of IDR40 billion on 10 May 2012. Furthermore, the company will pay IDR706.95 billion for second stage on 18 July 2012 and IDR65.7 billion for third stage.
The company needs IDR812.65 billion to acquire 90.3% shares from Garuda Adhimatra or totaling to 41,862 shares. As the first stage, it has paid a down payment of IDR40 billion on 10 May 2012. Furthermore, the company will pay IDR706.95 billion for second stage on 18 July 2012 and IDR65.7 billion for third stage.
Based on the company financial statement as of 31 March 2012, Alam
Sutera owned bank debt and bond worth IDR1.83 trillion. Meanwhile, the
company's equity noted at IDR3.89 trillion.
With additional debt of IDR600 billion, the company's bank debt and
bond will reach IDR2.43 trillion with debt to equity ratio of 0.62
times.
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