PT Semen Indonesia (Persero) Tbk (IDX:SMGR) agreed to acquire a 75.51% stake in PT Semen Baturaja (Persero) Tbk (IDX:SMBR) on September 21, 2022. Under the terms, PT Semen Indonesia Tbk will acquire 7,499,999,999 series B shares of PT Semen Baturaja. Post acquisition remaining 24.49% will be held by the public.

The transaction has been approved by government regulations ad, permits from the Ministry of Finance and the Ministry of BUMN had also been obtained. The transaction is subject to receive an effective registration statement from Financial Services Authority (OJK). The completion is expected to occur on December 20, 2022.

The transaction is expected to provide added value of IDR 1.6 trillion in the next 5 years to 2026.