JAKARTA. PT United Tractors Tbk (UNTR) through its subsidiary, PT Energia Prima Nusantara (EPN), has acquired a geothermal power plant company called PT Supreme Energy Rantau Dedap (SERD).

Sara K. Loebis, Corporate Secretary of UNTR, said the number of SERD shares acquired by EPN was 257,449 shares. In details, 163,136 shares were taken over from MeriT Power Holdings B.V. and 94,313 shares from Inpex Geothermal Ltd.

EPN signed a sale and purchase agreement with MeritT, Axia Power Holdings, and Inpex earlier this month. The total share sale and purchase value agreed upon is US$80.69 million or IDR1.26 trillion.

"The parties will use reasonable efforts to fulfill the preliminary conditions before the final settlement date agreed by the parties," Loebis explained, in his official statement.

According to data compiled by idnfinancials.com, SERD is an entity established in 2008. The company holds a concession license for the Rantau Dedap geothermal area in Lahat Regency, Muara Enim Regency, and Pagar Alam City.

SERD was initially established as a consortium of 3 companies, namely PT Supreme Energy, Marubeni from Japan, and ENGIE from France. (KR/LM)