JAKARTA (Yosefardi) – PT Duta Pertiwi (DUTI) Tbk, an indirect subsidiary of Sinarmas Land Ltd, has signed a conditional share purchase agreement to acquire 64.25% shares of PT Wijaya Pratama Raya (WPR).
DUTI, unit of Bumi Serpong Damai (BSDE), agreed to acquire the shares for cash consideration of Rp268 billion or about S$34.84 million.
WPR is principally engaged in the business of property development. DUTI and BSDE are both substantial players in the country’s property industry.
WPR currently manages shopping centers DP Mall in Semarang, the capital city of Central Java province.