PT Wijaya Karya (Persero) Tbk and PT. Wijaya Karya Beton, Tbk (JKSE:WTON), signed a conditional sale and purchase agreement to acquire 80% in PT Citra Lautan Teduh from Pumyang Construction Co., Ltd. (KOSE:A002410) on July 21, 2014. In this PT Wijaya Karya (Persero) Tbk will acquire 10% and PT.

Wijaya Karya Beton, Tbk 70% stake in PT Citra Lautan Teduh. PT. Wijaya Karya Beton, Tbk will use medium term notes which issued in 2013, which raised IDR 366 billion ($31.7 million), to fund the purchase of the stake in PT Citra Lautan Teduh.

As on September 10, 2014, PT Wijaya Karya (Persero) Tbk and PT. Wijaya Karya Beton, Tbk (JKSE:WTON), deed of sale and purchase of shares has been signed by PT. Wijaya Karya and Pumyang Construction for acquisition of 80% stake in PT Citra Lautan Teduh for $23.5 million.

The total transaction value also includes liabilities of PT Citra Lautan Teduh to other party. The currecny conversion was done through www.oanda.com on July 23, 2014.