JAKARTA - PT Danusa Tambang Nusantara (DTN), a subsidiary of PT United Tractors Tbk (UNTR), signed the acquisition agreement over 857 million shares issued by Nickel Industries Limited (NIL), a company publicly listed on Australian Stock Exchange (ASX). Said agreement was signed earlier today (9/6).

Quoted from the information disclosure, Sara K. Loebis, Corporate Secretary of UNTR, mentioned that the NIL’s shares are offered for AUD 1.10 per share or AUD 942.7 million in total. “Said issued 857 million shares were equal to 19.99% of total shares issued by NIL,” she added.

This transaction will be concluded, including the fulfilment of preliminary terms and conditions, no later than September 29, 2023. In said agreement, DTN is allowed to purchase 20% of any companies establishing an HPAL (High-Pressure Acid Leach) processing plant in Sulawesi. However, the decision will depend on terms and conditions, as well as the due diligence approved by DTN.

According to Loebis, this acquisition agreement is related to its initiative on diversifying its business to the nickel industry and the development of electric vehicle (EV) chain supply in Indonesia. With this plan on hand, the company will not fully rely on coal business for its revenue. (LK/ZH)