JAKARTA. PT Central Omega Resources Tbk (DKFT) has taken over 32% of shares of PT COR Industri Indonesia (CORII) from three of its subsidiaries to strengthen the business structure.

Feni Silviani Budiman, Director of DKFT, claimed that the number of shares acquired by the company clocks up to 208,948 shares. Those shares were bought from three of the company’s subsidiaries, PT Bumi Konawe Abadi (BKA), PT Mulia Pacific Resources (MPR), and PT Itamara Nusantara (IMN).

DKFT has bought 195,888 shares of BKA’s portion, 6,530 shares from MPR, and 6,530 shares from IMN.

Based on IDNFinancials report, CORII is a smelting company that is currently running in North Morowali, Central Sulawesi. Through its smelting plant, CORII mainly produces ferronickel.

“This shares acquisition is a corporate strategy intended to reinforce the corporate structure of the company,” Budiman explained in the information disclosure.

After this takeover, DKFT now controls 60% of CORII, leaving the remaining 40% to PT Marcolink Nickel Development. (KR/ZH)