JAKARTA. PT Central Omega Resources Tbk (DKFT), a metal and mineral mining company with total assets of IDR 2.41 trillion, has acquired PT Bumi Petra Makmur (BPM).

The acquisition is carried out through 2 subsidiaries of DKFT, PT Mulia Pacific Resources (MPR) and PT Mega Buana Resources (MBR). The investment portion by MPR and MBR is set to 50% each.

Feni Silviani Budiman, Director of DKFT, said that the acquisition will support several long-term strategies of the company that aims to increase the amount of nickel reserves. "It is through acquisitions of companies with Mining Business Licenses in Indonesia," Budiman mentioned in the official statement.

According to IDNFinancials data, DKFT recorded cash and cash equivalent of IDR 320 billion in June 2023. Meanwhile, the total equity was worth IDR 417.56 billion. (KR/ZH)