JAKARTA. PT Dharma Satya Nusantara Tbk (DSNG) announces the acquisition of PT Panyindangan, a company that owns a plantation in Sukabumi.

The acquisition is carried out by DSNG through two of its subsidiaries, PT Dharma Inti Investama (DII) and PT Cahaya Utama Nusantara (CUN). The amount of Panyindangan’s shares that are taken over by both companies amount to 100%.

Paulina Suryanti, Corporate Secretary of DSNG, confirmed that this corporate action is a part of the company’s strategy to develop its horticulture business line. “The purpose of this transaction is to make ways for business expansion to horticulture sector,” she added in the information disclosure.

The amount of investment spent by DSNG for this acquisition clocks up to IDR 68.35 billion. “The company has no affiliation with the selling party,” Suryanti reaffirmed.

According to IDNFinancials record, until March 2023, DSNG recorded having cash and cash equivalent of IDR 331.1 billon. Its total assets reached IDR 15.5 trillion in worth, while its equity equalled IDR 8.38 trillion. (KR/ZH)