Prajogo Pangestu's Petrindo to Become Controlling Shareholder of Singaraja Putra

Acquisition Details

PT Petrindo Jaya Kreasi Tbk (CUAN), a mining company controlled by Prajogo Pangestu, is in advanced negotiations to acquire a majority stake in PT Singaraja Putra Tbk (SINI), a company currently controlled by Happy Hapsoro ¹

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Source 2

https://finance.detik.com/bursa-dan-valas/d-8281779/prajogo-pengestu-bakal-caplok-emiten-milik-hapsoro

. The acquisition is being pursued through Petrindo's subsidiary, PT Kreasi Jasa Persada, which currently holds 19.99% of SINI's shares ¹

Source 1

https://investasi.kontan.co.id/news/petrindo-jaya-kreasi-cuan-bersiap-jadi-pengendali-singaraja-putra-sini

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Current Ownership and Planned Acquisition

As of the latest disclosure to the Indonesia Stock Exchange, Petrindo's effective ownership in SINI stands at 19.99% through its subsidiary ¹

. The planned acquisition aims to increase this stake to 51%, making Petrindo the controlling shareholder of SINI ²

Source 2

https://finance.detik.com/bursa-dan-valas/d-8281779/prajogo-pengestu-bakal-caplok-emiten-milik-hapsoro

. The negotiations are ongoing, with discussions focusing on the acquisition mechanism, share price, and timeline ²

Source 2

https://finance.detik.com/bursa-dan-valas/d-8281779/prajogo-pengestu-bakal-caplok-emiten-milik-hapsoro

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Business Implications

The acquisition represents a significant strategic move for Prajogo Pangestu's business portfolio, expanding his presence in diverse sectors. SINI, which operates in the lodging and timber industries, will potentially be integrated into Petrindo's business ecosystem. This consolidation could create synergies between the companies' operations and potentially strengthen their market positions.