JAKARTA (Yosefardi) – Property developer PT Bumi Serpong Damai (BSD) Tbk (BSDE), a subsidiary of Sinarmas Land Limited (SML), has acquired 150.08 million shares of PT Plaza Indonesia Realty Tbk (PLIN), representing 4.23% of total company’s shares.
The nominal value of acqusition was Rp200 per share, or total net consideration of Rp270.15 billion. The acquisitioin was financed by internal resources and fully settled in cash.
Following the Acquisition, the Group’s (SML and subsidiaries) effective interest in PLIN increased from 23.92% to 26.03%.
BSD in a disclosure to the Indonesia Stock Exchange (IDX) said it had in August 28, 2013 purchased PLIN shares at price of Rp1,800 per share, increasing its interest to 8.22%.