JAKARTA. PT Perusahaan Gas Negara (Persero) Tbk (KRAS) or PGN, confirmed its plan to acquire PT Krakatau Daya Listrik (KDL), which is currently 100% owned by PT Krakatau Steel Tbk (KRAS).
Rachmat Hutama, Corporate Secretary of PGAS, said that the plan is currently being reviewed by the directors. “The company is still conducting an internal study regarding the value and options of the takeover scheme,” Hutama said through an official statement on Thursday (5/9) today.
With the acquisition, said Hutama, PGAS could increase its business portfolio in gas sector, both within and outside Indonesia. “To improve the company’s role as a gas sub-holding,” said Hutama.
For information, KDL was able to record a net profit of US$ 5.92 million in the 2018 fiscal year.
Source: IDN Financials | 5 September 2019
PGN confirms its plan to acquire Krakatau Steel’s subsidiary