JAKARTA (Yosefardi) – PT United Tractors Tbk (UNTR) targets to conclude the acquisition of 50.1%
stake in PT Acset Indonusa Tbk (ACST) in first quarter of 2015, of which 10.1% shares will get through the tender offer.
ACST engages in construction and infrastructure business. Currently ACST’s shareholders are Cross Plus (38.45%), Loka Cipta (29.75%), and public investors (31%).
ACST booked new contracts of Rp600 billion as of November 2014. It targets to book new contracts of Rp1.5 trillion this year.
The company booked net profit of Rp69 billion in first nine months of 2014, grew by 47% from Rp47 billion in the same period of 2013. Revenue also rose 45% to Rp858 billion. ACST targets to book revenue of Rp1.33 trillion and net profit of Rp121 billion for this year.