JAKARTA. PT Indocement Tunggal Prakarsa Tbk (INTP), one of the largest cement producers in Indonesia, has signed a Conditional Sale and Purchase Agreement (CSPA) regarding the plan to acquire 100% of the shares of PT Semen Grobogan (SGB).

The conditional sale and purchase agreement was signed by INTP together with the sellers and buyers of SGB shares. Some of them are PT Prima Tunas Investama (PTI), PT Prima Sakti Investasma (PSI), and PT Dian Abadi Perkasa (DAP).

"PTI and PSI as shareholders in PT SGB will sell and transfer all the SGB shares they own to the company and DAP," said Dani Handajani, Corporate Secretary of INTP, in her official statement.

Handajani added that the acquisition of SGB shares was carried out to strengthen INTP's position in the cement industry. "Especially in the Central Java region and surrounding areas," said Handajani.

For the record, PTI and PSI have no affiliation with INTP. In addition, the acquisition of SGB shares is not included in the material transaction category, because its value does not exceed 20% of the company's total equity when the transaction is carried out. (KR/LM)