JAKARTA. PT United Tractors Tbk (UNTR) has completed the acquisition of 257,449 shares of Supreme Energi Rantau Dedap (SERD), a geothermal power generation company, at a price of US$80.58 million or IDR 1.25 trillion.

This price is slightly lower than the initial agreement, namely US$80.69 million or IDR 1.25 trillion. "The adjustment of the total value of all transactions is based on calculations using the results of audited financial reports," said Sara K. Loebis, UNTR Corporate Secretary, in her official statement.

"There is a slight reduction from the initial transaction scheme," added Sara.

For the record, the SERD shares acquired by UNTR were carried out through its subsidiary, namely PT Energia Prima Nusantara (EPN). All these shares were purchased from MeriT Power Holding BV and Inpex Geothermal Ltd.

Sara admitted that the SERD acquisition was carried out as a form of UNTR's business diversification initiative. "As part of a sustainable growth strategy in the field of geothermal electricity generation," said Sara.

Currently, SERD has a geothermal business permit for the Rantau Dedap Working Area, Muara Enim, South Sumatra. SERD began commercial operations in December 2021, with a capacity of 91.2 megawatts (MW). (KR/LM)