JAKARTA (Yosefardi) – PT MNC Land Tbk (KPIG) have prepared some plans for expansion until next year after obtaining shareholders’ approval on acquisition over PT Bali Nirwana Resort.
Daniel Yuwono, MNC Land’s director, said after acquiring Bali Nirwana, the company will propose to acquire Lido Lakes Resort & Gold and Mandalika.
He said MNC Land will acquire Bali Nirwana at price of Rp1.71 trillion, below its market value of Rp2.84 trillion.
MNC Land had paid Rp753.97 billion for acquiring 44.09% stake in Bali Nirwana from PT Bakrieland Development Tbk (ELTY). Currently, MNC Land has cash of Rp4.4 trillion.
At 10.25 am Jakarta time, KPIG fell 1.45% to Rp1,360 per share, rebounded 36% from bottom but lost 12% from its peak year to date.