JAKARTA. PT Geo Energy Investama (GEI) has completed the acquisition of 58.65% of PT Golden Eagle Energy Tbk (SMMT).

According to Idres, Director of GEI, the number of SMMT’s shares acquired by his company is 1,847,530,695 shares. All of those are acquired from PT Mutiara Timur Pratama (MTP).

“With the completion of this transaction, we now confirm the shift of controlling shareholder position from MTP to GEI,” Idres explained in the information disclosure in Indonesia Stock Exchange (IDX).

According to IDNFinancials data, MTP previously controlled 83.65% of SMMT’s shares. However, after this acquisition, the portion of MTP in SMMT is lowered to 25%.

In the meantime, the portion of public investors in SMMT remains at 16.35%. (KR/ZH)