PT Pool Advista Indonesia Tbk (JKSE:POOL) entered into an agreement to acquire 99.99% stake in Kharisma Asset Management from PT Ramayana Artha Perkasa and Partoyo MSc. for IDR 88 billion on May 12, 2016. As part of transaction, Advista agreed to acquire approximately 2.96 million shares from Ramayana Artha representing approximately 94.99% stake in Kharisma and approximately 0.16 million shares from Partoyo MSc representing 5% stake in Kharisma. Post transaction, Ramayana Artha will retain 0.01% stake in Kharisma. In a related transaction, PT Pool Advista Indonesia Tbk (JKSE:POOL) entered in an agreement to acquire 99.99% stake in PT Indojasa Pratama Finance from PT Indojasa Utama and Freddy Gunawan for approximately IDR 250 billion on May 12, 2016. IDR 342 billion will be used to acquire 99.99% shares in PT Kharisma Asset Management. On June 23, 2016, the transaction has been approved by shareholders. For the year ending December 31, 2015, Kharisma Asset Management had total assets of approximately IDR 101.37 billion, total liabilities of approximately IDR 1.11 billion, total equity of approximately IDR 100.26 billion, revenue of approximately IDR 14.3 billion and profit of approximately IDR 3.87 billion. The transaction is subject to approval from shareholders of Ramayana Artha Perkasa, approval from spouse of Partoyo, approval from shareholders of Kharisma, approval from Financial Services Authority and obtaining registration effective statement from OJK on rights offering of the PT Pool Advista Indonesia Tbk. The deal is expected to close in thirty days from the fulfillment of specified conditions to the transaction. KAP Tjahjadi & Tamara acted as accountant to PT Pool Advista Indonesia Tbk. KAP Doli, Bambang, Sulistiyanto, Dadang & Ali acted as accountant to Kharisma Asset Management. KJPP Jennywati, Kusnanto & Rekan and KJPP Yanuar Bey dan Rekan acted as appraiser to PT Pool Advista Indonesia. PT Pool Advista Indonesia Tbk (JKSE:POOL) completed the acquisition of 99.99% stake in Kharisma Asset Management from PT Ramayana Artha Perkasa and Partoyo MSc. on September 1, 2016.