JAKARTA (Yosefardi) – Interra Resources Ltd, controlled by Edwin Soeryadjaya and Sandiaga Uno, intends to buy new shares of PT Mitra Investindo Tbk (MITI).
MITI plans to issue new shares in June this year, to raise US$13.5 million, used to fund the acquisition over 90% stake in Goldwater LS Pte Ltd from Interra Resources.
MITI had earlier signed a conditional sale and purchase agreement (CSPA) with Interra and Goldwater.
Goldwater’s subsidiary IBN Oil Holdico Lts is operator for Linda Sele oil and gas block in West Papua.
Interra had acquired PT Benakat Oil and PT Indelberg Indonesia for US$78.5 million.