NFC Metal PTE. Ltd. entered into an agreement to acquire a 51% stake in PT Dairi Prima Minerals from Gain and Win Pte. Ltd. for approximately $200 million on April 29, 2017. On June 16, 2017, NFC Metal PTE. Ltd. signed a conditional stake acquisition agreement to acquire the 51% stake. As of April 14, 2018, Gain and Win Pte. Ltd. transferred its 80% stake in PT Dairi Prima Minerals to PT Bumi Resources Minerals Tbk (IDX:BRMS), which holds 99.99% stake in Gain and Win Pte. Ltd. Accordingly, NFC Metal PTE. Ltd. will acquire 51% stake in PT Dairi Prima Minerals from PT Bumi Resources Minerals Tbk. Post completion of the transaction, NFC Metal PTE. Ltd. will hold 51% stake whereas PT Bumi Resources Minerals Tbk will hold 29% stake in PT Dairi Prima Minerals. As of June 15, 2018, Nonferrous Singapore Co., Ltd. is stated as the buying entity for the acquisition of 51% stake in PT Dairi Prima Minerals. The transaction is subject to approval from shareholders of PT Dairi Prima Minerals, Ministry of Energy and Mineral Resources of Indonesia, Investment Coordinating Board of Indonesia, Ministry of Justice of Indonesia and other approvals to comply with laws of China. The Board of Directors of China Nonferrous Metal Industry's Foreign Engineering and Construction Co.,Ltd. (SZSE:000758), the parent of NFC Metal PTE. Ltd. and Nonferrous Singapore Co., Ltd. approved the transaction in the 26th session of 8th directorate meeting held on April 13, 2018. As on June 15, 2018, the National Development and Reform Commission stated that they have commenced to revise the purchase plan of Nonferrous Singapore Co., Ltd. PT Bumi Resources Minerals will pay off its remaining $90 million loan of Credit Suisse from the proceeds of the transaction. Additionally, part of proceeds will be applied to be paid to PT Aneka Tambang Tbk (IDX : ANTM) for the purchase of 22% stake in PT Dairi Prima Minerals. NFC Metal PTE. Ltd. completed the acquisition of 51% stake in PT Dairi Prima Minerals from PT Bumi Resources Minerals Tbk (IDX:BRMS) on September 20, 2018.