PT Margautama Nusantara entered into a conditional share and purchase agreement to acquire 40% stake in PT Jasamarga Jalanlayang Cikampek from PT Jasa Marga Tbk for approximately IDR 4.4 trillion.

PT Margautama Nusantara entered into a conditional share and purchase agreement to acquire 40% stake in PT Jasamarga Jalanlayang Cikampek from PT Jasa Marga (Persero) Tbk (IDX:JSMR) for approximately IDR 4.4 trillion on June 30, 2022. The total consideration of IDR 4.389 trillion shall be settled as IDR 15 billion upon signing on June 30, 2022, IDR 791 billion upon closing on or about July 31, 2022, IDR 3.224 trillion upon on or before December 20, 2022 and IDR 359 billion upon reaching a pre-agreed target level of tariff adjustment with a longstop date of December 31, 2024. The board of Metro Pacific Investments Corporation approved the deal.

The closing of the transaction is subject to the satisfaction of customary closing conditions, including the completion of the technical due diligence to the satisfaction of PT Margautama. Transaction is expected to close on October 10, 2022.