JAKARTA (Yosefardi) – PT Mitra Pinasthika Mustika Tbk (MPMX) plans to acquire 238,000 shares of PT Mitra Pinasthika Mustika Finance (MPMF) for a total value of Rp238 billion.
After the acquisition, MPMX’s ownership in MPMF will increase to 349,573 shares, representing 64.97% of MPMF total issued shares.
MPMX also, through PT Mitra Pinasthika Mustika Rent, now holds 62.82% of MPMF shares while MPMX owns 37.18% MPMF shares.
MPMF now has authorized capital of Rp800 billion and paid-up capital of Rp300.08 billion. With MPMX’s further acquisition, MPMF’s total issued and paid-up capital will total Rp538.08 billion.
MPMX will seek shareholders’ approval on the acquisition proposal on the extraordinary general meeting scheduled for November 11, 2013. The transaction is expected to conclude in November 19, 2013.