JAKARTA – PT TBS Energi Utama Tbk (TOBA), through its subsidiary, SBT Investment 2 Pte. Ltd., has completed the acquisition of 266.56 million shares, or 100% of Sembcorp Environment Pte. Ltd.

TOBA’s Director, Alvin Firman Sunanda, stated that this transaction began at the end of 2024 and was finalised in March 2025.

“This acquisition was approved by the Extraordinary General Meeting of Shareholders (EGMS) on 8 November 2024, and also received approval from JTC Corporation and the National Environment Agency of Singapore,” he said in a disclosure to the IDX, Tuesday (18/3).

According to the disclosure on 8 December 2024, the funding for this acquisition was sourced from external financing of USD 285.91 million and internal cash of USD 12.66 million.

This acquisition is part of TOBA’s strategy to build an integrated waste management platform across Southeast Asia.

TOBA’s share price has fallen 9.47% to IDR 306 per share over the last 5 days. However, in the first trading session today (19/3), its share price rose 0.66% by 09.15 WIB. (DK/KR/ZH)