JAKARTA - PT Era Graharealty Tbk (IPAC) has acquired seven companies listed under Era Fiesta Group (EFG) worth IDR 11.22 billion last week (26/1). The transaction value is equal to 36.54% of total equity of IPAC as of June 2023 of IDR 30.71 billion.

Based on the press release quotes today (30/1), Darmadi Darmawangsa, President Director of IPAC, claimed that EFG is a one of well-performing brokers. "The company will acquire 7 companies under EFG with stock ownership of 51% each," he added.  

With this acquisition, IPAC will become the major shareholder of EFG members, thus allowing the company to contribute more in policymaking and business development of property brokers.

The seven companies of EFG in question, as well as the investment value, include PT Kencana Anugerah Propertindo of IDR 3.78 billion, PT Kencana Abadi Propertindo of IDR 1.65 billion, PT Kencana Berkat Propertindo of IDR 533.94 million, PT Kencana Makmur Propertindo of IDR 1.67 billion, PT Kencana Maju Propertindo of IDR 635.94 million, PT Kencana Sukses Propertindo of IDR 825.95 million, and PT Kencana Sejahtera Propertindo of IDR 1.60 billion.

Said acquisition is expected to accelerate the business growth of property agencies. As of June 2023, the revenue of this issue clocked up to IDR 11.61 billion. The biggest contributor is marketing and technical free (MTF) of IDR 6.11 billion, followed by commission of IDR 4 billion, franchise of IDR 610.61 million, royalty of IDR Rp 679.20 million, and others of IDR 208.98 million. (LK/ZH)