JAKARTA – PT United Tractors Tbk (UNTR) has sold 100% of its indirect subsidiary, PT Borneo Berkat Makmur (BBM), to PT Reswara Minergi Hartama (RMH), a subsidiary of PT ABM Investama Tbk (ABMM).

For reference, UNTR holds its shares in BBM through its subsidiary, PT Tuah Turangga Agung (TTA), which operates in the mining sector.

“On March 3, 2025, TTA signed a Share Sale and Purchase Agreement (PPJB) with RMH,” said Sara K. Loebis, Corporate Secretary of UNTR, through a disclosure to the stock exchange today (4/3).

Meanwhile, BBM controls 60% of PT Piranti Jaya Utama (PJU). “Upon the fulfilment of the transaction’s condition precedents, RMH will indirectly own the 60% shares in PJU held by BBM,” Sara added.

Hans Manoe, Corporate Secretary of ABMM, stated that the signing of the PPJB is part of the company’s effort to increase its coal reserve portfolio.

Meanwhile, through this transaction, UNTR’s management aims to streamline its coal business line to improve the company’s operational efficiency.

It is worth noting that, in addition to acquiring BBM shares, RMH also took over PT Borneo Berkat Sentosa (BBS), which holds the remaining 40% shares in PJU.

According to the official disclosure, the value of the BBM acquisition was reported to be USD 34.2 million, with the transaction expected to be completed in Q2 2025.

However, according to ABMM’s official release, the total transaction value for RMH’s acquisition of BBM and BBS shares amounts to USD 57 million. (ZH)