JAKARTA. LX International Corp, a South Korean mining and commodity trading company, has officially acquired 7.27 billion shares of PT Adhi Kartiko Pratama Tbk (NICE).

This acquisition was carried out by LX International Corp through one of its subsidiaries, PT Energy Battery Indonesia (EBI). LX International Corp’s portion in EBI is reported at 99.99%.

EBI has acquired NICE’s stocks from several investors. They consist of 1.85 billion shares from PT Sungai Mas Minerals, 1.73 billion shares from PT Inti Mega Venture, 25 million shares from Michael Adhidaya Susantyo, and 25 million shares from Victor Agung Susantyo.

The stock was traded using the price of IDR 438 per share. Thus, the total fund spent by EBI to take over these shares reaches approximately IDR 3.18 trillion.

After said acquisition, EBI controls 3.64 billion shares of NICE, which are equal to 60% of NICE’s issued and paid-up capital.

Stevano Rizki Adranacus, President Director of NICE, believes that this acquisition will contribute significantly in realising the company’s vision as the leading player in nickel mining and refinery in Indonesia. “By putting forward world-class mining standards,” he added.

In addition, this acquisition is deemed in line with NICE’s strategy to further advance industry growth and strengthen its position in supply chain of electric vehicle industry. (KR/ZH)