Strengthening Business Portfolio, ABM Group Completes Process GEMS Share Purchase
JAKARTA, 15 September 2022 — Integrated energy investment company PT ABM Investama Tbk (ABMM) optimizes opportunities by adding to its business portfolio. This step was realized through the completion of the purchase process of 1,764,705,900 shares or shares equivalent to a 30 percent stake in PT Golden Energy Mines Tbk (GEMS) with a value of USD420 million plus with a number of deferred payments. The share purchase transaction is executed through PT Radhika Jananta Raya (RJR), a wholly owned subsidiary of ABMM.
On the same occasion, RJR has also signed a Syndicated Credit Agreement for obtained a financing facility with a value of USD320 million, which was used by RJR to make payment of a portion of the share purchase price.
Adrian Erlangga as Director of PT ABM Investama Tbk. explained, this purchase is strategic steps to increase business growth throughout the business ecosystem in ABM Group. “After a long time trying to increase coal reserves, today we successfully developed our portfolio for the long term growth of children our company. We hope that the ongoing cooperation with Sinarmas Group so far it can be strengthened by collaboration at GEMS.” Adrian explained.
President Director of PT ABM Investama Tbk., Andi Djajanegara added, ABM Group always committed to continuing to promote a balance between business development and ESG implementation. “The purchase of GEMS shares is part of ABM's long-term strategy Groups. At the same time, the ABM Group remains committed to implementing ESG initiatives that are support the fulfillment of a sustainable business,” concluded Andi.