PT Astratel Nusantara signed a conditional sale and purchase agreement to acquire remaining 60% stake in PT Baskhara Utama Sedaya from PT Karsa Sedaya Sejahtera and PT Nusa Raya CIpta Tbk (JKSE:NRCA) for IDR 2.6 trillion on January 26, 2017. Under the terms of the transaction, the purchase price includes debt. PT Karsa Sedaya Sejahtera will sell 45.62% stake and will get IDR 2.3 trillion and PT Nusa Raya CIpta Tbk will sell 14.38% stake and will get IDR 223 billion. The transaction is subject to approvals from shareholders of PT Saratoga Investama Sedaya Tbk, parent of PT Karsa Sedaya Sejahtera and PT Nusa Raya CIpta Tbk. As of May 8, 2017, 15% of the total transaction price has been paid and rest 85% of the total transaction price will be paid in January 2018. The use of proceeds has not been determined. The transaction will have a positive impact on PT Saratoga Investama Sedaya Tbk, parent of PT Karsa Sedaya Sejahtera and PT Nusa Raya CIpta Tbk. Makes & Partners acted as legal advisor, KAP Amir Abadi Jusuf, Aryanto, Mawar & Rekan acted as accountant, KJPP Suwendho Rinaldy & Rekan acted as public appraiser to PT Surya Semesta Internusa Tbk.