JAKARTA (Yosefardi) – Investment company PT Saratoga Investama Sedaya Tbk (SRTG), owned by Sandiaga S Uno and Edwin Soeryadjaya, has proposed to acquire 1.09 billion shares of taxi operator PT Express Transindo Utama Tbk (TAXI).
Prsident director of Express Group, Daniel Podiman, confirmed Saratoga’s proposal but TAXI has not responded yet. He said TAXI welcomes the offer as Saratoga would help to expand dan develop the automotive business.
At current price of Rp1,015, Saratoga’s acqusition over TAXI will value for Rp1.1 trillion.
SRTG booked net profit of Rp116 billion in the first quarter of 2015, dropped significantly from Rp507.34 billion in the same period of 2014. Revenue declined to Rp1.07 trillion from previous Rp1.57 trillion.
While TAXI booked net profit of Rp20 billion in the period, dropped 30.4% from previous Rp29 billion. Its revenue rose 35.7% to Rp247 billion from Rp182 billion a year earlier.