JAKARTA. PT TBS Energi Utama Tbk (TOBA), an issuer in the management consultancy field and a holding company, has reportedly acquired Sembcorp Environment Pte Ltd (SEPL).

The acquisition is carried out by TOB through one of its subsidiaries based in Singapore, SBT Investment 2 Pte Ltd. It is known that SBT 2 is a company owned by TOBA through PT Solusi Bersih TBS and SBT Investment 1 Pte Ltd.

“The aggregate value of SEPL acquisition by SBT 2, based on SPA, is cash equivalent worth SGD 405 million, which then will be adjusted based on settlement account on the date of transaction closing,” said the management of TOBA in the official statement.

In the shares sales and purchase agreement, TOBA also acts as the guarantor of SBT 2 with corporate guarantee.

The management of TOBA said that the transaction will not negatively affect operational nor financial condition of the company. In contrast, this transaction is believed to reinforce TBS’s position in regional waste management and environmental solution, as well as financial position improvement. (KR/ZH)