PT Lintang Sapta Lestari entered into a sales and purchase agreement to acquire 51% stake in PT Sinar Tambang Arthalestari and PT Bima Indo Perkasa from PT Panasia Indo Resources Tbk (IDX:HDTX) for approximately IDR 200 billion on November 15, 2018. A total of 572.73 million shares of PT Sinar Tambang and 0.001 million shares of PT Bima Indo Perkasa are being acquired as part of the transaction for IDR 194.9 billion and IDR 127.5 million respectively. PT Panasia Indo Resources Tbk’s shareholders approval is required for the deal and the extraordinary meeting of shareholders is expected on December 19, 2018. As of December 19, 2018, PT Panasia Indo Resources Tbk’s shareholders approved the acquisition.