PT Sentul City Tbk (JKSE:BKSL) agreed to acquire 99.99% stake in PT Graha Sejahtera Abadi from PT Sakti Generasi Perdana for IDR 2 trillion on December 28, 2016. PT Sentul City Tbk will acquire 2.01 million shares of PT Sakti Generasi Perdana as part of the transaction. PT Sentul City Tbk will issue 20.72 billion shares in right offering and will receive IDR 2.32 trillion. PT Sentul City Tbk will use IDR 2.02 trillion for the acquisition from right offering. The transaction needs approval from the shareholders of PT Sentul City Tbk and PT Sakti Generasi Perdan and approval from all creditors. Shareholders of PT Sentul City Tbk approved the transaction on February 17, 2017. The transaction is expected to be completed by April 30, 2017. KAP Morhan dan Rekan acted as an accountant for PT Graha Sejahtera Abadi, KAP Tanubrata Sutanto Fahmi & Rekan acted as an accountant for PT Sentul City Tbk, KJPP Jennywati, Kusnanto & Rekan and KJPP Suwendho Rinaldy & Rekan acted as a public appraiser for PT Graha Sejahtera Abadi.