PT Pusako Tarinka Tbk completed the acquisition of 99.98% stake in PT Red Planet Hotel Surabaya from Red Planet Holdings Limited and PT Crio Indonesia for IDR 43.9 billion.
The transaction is subject to approval by from shareholders of PT Pusako Tarinka, completion of rights issue of PT Pusako Tarinka Tbk, fulfillment of the Laws and approval from Investment Coordinator Board of Indonesia, approval from creditors of PT Pusako Tarinka Tbk and corporate approval. The transaction has been approved by the shareholder's of PT Pusako Tarinka. The transaction is expected to be closed by June 30, 2014. Kantor Akuntan Publik Kanaka, Puradiredja, Suhartono acted as accountant and PT Saham Raya Registra acted as registrar to PT Pusako Tarinka.
PT Pusako Tarinka Tbk (JKSE:PSKT) completed the acquisition of 99.98% stake in PT Red Planet Hotel Surabaya from Red Planet Holdings (Indonesia) Limited and PT Crio Indonesia for IDR 43.9 billion on June 30, 2014. Red Planet Holdings (Indonesia) Limited sold a 51% stake while PT Crio Indonesia sold a 48.98% stake in PT Red Planet Hotel Tangerang.