JAKARTA (Yosefardi) – The Business Competition Supervisory Commission (KPPU) supports the acquisition over Jabal Nor shares by PT AKR Corporindo Tbk (AKRA) as it did not violate business monopoly regulation.
According to KPPU, the assessment report shows that the corporate action contains no aspect of monopoly or unfair business practice.
KPPU’s assessment was made as follow up of notification filed by AKR on Jan. 4, 2013.
Previously AKR increased its ownership in Jabal Nor from 33.5% to 59.4%. The share purchase was made through its subsidiary, PT Anugrah Karya Raya, at total value of Rp24.29 billion.
Jabal Nor is a company engaged on infrastructure facilities for mining companies. Jabal Nor is developing an integrated coal terminal of PT AKR Corporindo. (indrab@yosefardi.biz)