PT Hanwa Indonesia, Siam Yamato Steel Company Limited and Yamato Kogyo Co., Ltd. completed the acquisition of 95% stake in PT Nusantara Baja Profil from PT Gunung Raja Paksi Tbk for $358 million.
May 30, 2024
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PT Hanwa Indonesia, Siam Yamato Steel Company Limited and Yamato Kogyo Co., Ltd. agreed to acquire 95% stake in PT Nusantara Baja Profil from PT Gunung Raja Paksi Tbk for $425 million on August 8, 2023. Nusantara Baja Profil changed its name to PT Garuda Yamato Steel on August 8, 2023. The deal has been approved by board of directors of Hanwa Co., Ltd. The deal is subject to certain conditions and scheduled to take place in Q1, 2024. Houlihan Lokey, Inc. (NYSE:HLI) acted financial advisor to Yamato Kogyo Co., Ltd. (TSE:5444) and PT Hanwa Indonesia. Agus Ahadi Deradjat and Adri Dharma of Ali Budiardjo Nugroho Reksodiputro acted as a legal advisor to PT Hanwa Indonesia, Yamato Kogyo Co., Ltd. (TSE:5444) and Siam Yamato Steel Company Limited.
PT Hanwa Indonesia, Siam Yamato Steel Company Limited and Yamato Kogyo Co., Ltd. completed the acquisition of 95% stake in PT Nusantara Baja Profil from PT Gunung Raja Paksi Tbk for $358 million on May 31, 2024.
PT Gunung Raja Paksi Tbk is an Indonesia-based iron and steel company. The Companyâs operating segments are based on the types of products consisting of steel sheets and steel bars. Its production products consist of various sizes according to international standards and include all kinds of structural parts, profiles and reinforcement rods. The Companyâs flat products have various end products covering all types of hot and cold plates, hot and cold rolled coils, as well as various types of downstream plates and other coils. Its available products include Welded Beam, Cut to Shape, Beam Box, Cell Beam, Honeycomb, UNP, L-Angle, Angle (HR), Cell Form, Channel (UNP), H-Beam (HR), King Cross, Queen Cross, T-Beam, Wide Flange Beam (IWF), Equal Angle, Lipped Channel, Rectangular Hollow Section, Square Hollow Section, Unequal Angle, ERW Pipe and Expanded Mesh, and Coil Plate. The Company offers plate, steel, forming and coil services centers.
PT Hanwa Indonesia, Siam Yamato Steel Company Limited and Yamato Kogyo Co., Ltd. completed the acquisition of 95% stake in PT Nusantara Baja Profil from PT Gunung Raja Paksi Tbk for $358 million.