PT Indonesia Transport & Infrastructure Tbk (IDX:IATA) signed a Conditional Sale and Purchase Agreement to acquire PT Bhakti Coal Resources from PT MNC Investama Tbk (IDX:BHIT) for $140 million on December 1, 2021. PT Indonesia Transport & Infrastructure Tbk will finance the transaction through rights issue. The transaction is subject to approval from Financial Services Authority [OJK], Indonesia stock exchange [BEI], and other related regulations, especially for the transfer of IATA flight business licenses to new subsidiaries. The transaction is expected to close in first semester of 2022.

PT Indonesia Transport & Infrastructure Tbk (IDX:IATA) completed the acquisition of PT Bhakti Coal Resources from PT MNC Investama Tbk (IDX:BHIT) on December 20, 2021.