JAKARTA - PT Pertiwi Nusantara Raya (PNR), a subsidiary of PT United Tractors Tbk (UNTR), has wrapped up the acquisition of PT Lestarikan Bumi Papua (LBP) from two of its affiliated shareholders for IDR 67.5 billion.

Sara K. Loebis, Corporate Secretary of UNTR, said that all preliminary prerequisites of this conditional shares sale and purchase agreement have been fulfilled by both parties as of last week (20/9). “PNR has completed the payment to PT Lestarikan Bumi Pertiwi (LBPW) and PT Arara Bentang Semesta (ABS)," she said.

Approximately 320,145 shares, or 49.9992%, which belonged to LBPW, and 256,125 others, or 40.0008%, of ABS have been transferred to PNR.

PNR, LBPW, and ABS reportedly signed a conditional shares sale and purchase agreement on August 28. The transaction is intended as an attempt of diversification of sustainable business activities, further advancing the development of business group in the forest management and environmental sustainability field. (LK/ZH)