Pakuwon Jati tbk PT (JKSE:PWON) acquired 67.1% stake in PT Pakuwon Permai for IDR 2.3 billion on October 10, 2014. Pakuwon Jati acquired 868 million shares under the deal. The acquisition was funded by the net proceeds of Pakuwon Jati's issuance of debt of IDR 2.3 billion. Pakuwon Permai had total assets of IDR 2.5 trillion, total equity of IDR 1.72 trillion, earnings before tax of IDR 251.88 billion and net profit of IDR 217.96 billion for the year ending December 31, 2013. The transaction is subject to approval from Indonesia Investment Coordinating Board, approval from the shareholders of PT Pakuwon Permai and obtainment of fairness opinion. KAP Osman Bing Satrio & Eny and Supoyo, Sutjahjo, Subyantara & Rekan acted as accountant and KJPP Martokoesoemo Pratsetyo & Rekan acted as fairness opinion provider to Pakuwon Jati.

Pakuwon Jati tbk PT (JKSE:PWON) completed the acquisition of 67.1% stake in PT Pakuwon Permai on October 10, 2014.