JAKARTA. PT Bumi Serpong Damai Tbk (BSDE) reportedly will claim the controlling shareholder position in PT Suryamas Dutamakmur Tbk (SMDM), another real estate management and developer.

Ratna Juwanita Haliman, Director of SMDM, mentioned that BSDE had previously negotiated with Top Global Limited (TGL), which resulted in the decision of BSDE acquiring the entire shares of SMDM owned by TGL.

For the record, TGL is the original controlling shareholder of SMDM. It reportedly has 91.99% of SMDM.

“On July 31, 2024, BSDE and TGL had signed a Conditional Share Purchase Agreement (CSPA) in regard to this acquisition plan,” added Haliman in the information disclosure in Indonesia Stock Exchange (IDX).

It is worth mentioning that BSDE had no prior affiliation with SMDM.

According to IDNFinancials data, SMDM’s price reportedly arrived at IDR 456 per share during today’s (2/8) opening. Assuming that this price will be used for the acquisition of SMDM by BSDE, total acquisition value is estimated reaching IDR 2 trillion. (KR/ZH)