PT Mahaka Media Tbk (JKSE:ABBA) signed an agreement to acquire 99.98% stake in PT Gamma Investa Lestari from PT Entertainment Live Indonesia for IDR 26 billion on May 5, 2017. PT Mahaka Media will acquire 51.5 million shares of PT Gamma Investa Lestari. In a related transactions, PT Mahaka Radio Integra Tbk (JKSE:MARI) signed an agreement to acquire 20.8% stake in PT Radionet Cipta Karya from PT Mahaka Media Tbk (JKSE:ABBA) for IDR 32.8 billion on May 5, 2017 and PT Beyond Media signed an agreement to acquire 95.94% stake in PT Avabanindo Perkasa from PT Mahaka Media Tbk (JKSE:ABBA) for IDR 29.1 billion on May 5, 2017. PT Gamma Investa reported total revenue of IDR 18.7 billion, total assets of IDR 45.5 billion and total equity of IDR 27.2 billion for the year ending, December 31, 2016. The transaction is subject to approval from the shareholders of PT Mahaka Media Tbk. Aria Kanaka & Rekan acted as an accountant and KJPP Firman, Suryantoro, Sugeng, Suzy, Hartomo dan Rekan acted as an appraiser for PT Mahaka Media. PT Mahaka Media Tbk (IDX:ABBA) completed the acquisition of 99.98% stake in PT Gamma Investa Lestari from PT Entertainment Live Indonesia in 2017.