SINGAPORE (Yosefardi) – United Fiber Systems (UFS) Limited has extended the closing of acquisition of 66.99% shares of PT Golden Energy Mines (GEMS) Tbk from Dian Swastatika Sentosa (DSSA) to July 12, 2013.
Closing of the transaction has several times been extende, the last time to June 30, 2013.
“In the event that the definitive documentation is not entered into on or before July 12, the terms of heads of agreement will terminate and each of UFS and DSS will not have any obligation or liability to one another arising thereunder,” UFS said Friday (June 28).
DSSA is an infrastructure and energy company controlled by Sinarmas Group. GEMS, meanwhile, is a growing coal producer.