PT Urban Jakarta Propertindo Tbk (IDX:URBN) signed a conditional sale and purchase agreement to acquire a 51% stake in PT Jakarta River City for approximately IDR 630 billion on February 12, 2020. Under the terms, Urban Jakarta Propertindo will acquire 0.6 million shares in PT Jakarta River. PT Urban Jakarta Propertindo Tbk (IDX:URBN) completed the acquisition of a 51% stake in PT Jakarta River City on April 24, 2020.