Tarsus will pay initial cash consideration on completion of US$0.5 million for the 51% interest, with estimated total deferred payments of approximately US$2.4 million.
Tarsus and PT Event Pro have conditional put and call options at various points in 2016 and 2017 in respect of the outstanding 49% shareholding in Infrastructure Asia, which has total market capitalization of US$23 million.
PT Infrastructure Asia currently owns and organizes three annual business-to-business exhibitions and one seminar series in Indonesia, namely IIICE (The Indonesia International Infrastructure Conference and Exhibition), IFTS (a series of infrastructure related seminars), ITMIT (a new launch exhibition and conference in November 2013 focusing on the Telecommunications, Media and IT sectors), and APSDEX (Asia Pacific Security and Defence Exhibition). (bintang@theindonesiatoday.com)