PT Bakrie & Brothers Tbk (JKSE:BNBR) entered into an agreement to acquire 30% stake in PT Mitratama Perkasa from PT Sumber Energi Andalan Tbk on February 19, 2014. PT Bakrie & Brothers Tbk is acquiring 3600 shares of PT Mitratama Perkasa representing 30% stake. Prior to the sale, Mitratama Perkasa would be restructured to hold infrastructure assets in relation to PT Arutmin Indonesia. As of December 2013, PT Mitratama Perkasa reported total revenue $131.51 million, total assets of $598.68 million, total equity of $237.24 million, net income of $82.63 million and total liabilities of $361.44 million.

The transaction, which is subject to requisite approvals, is expected to close within April 2014. As of May 16, 2014, the transaction has been approved by shareholders of PT Sumber Energi Andalan Tbk. As of April 2, 2015, the transaction, which is subject to approval of lenders of PT Mitratama Perkasa, is still pending. The Long stop date of the transaction has been extended to June 30, 2015. Hendrawinata Eddy& Siddharta acted as accountant to Sumber Energi Andalan Tbk and Tjiendradjaja & Handoko Tomo acted as accountant to PT Mitratama Perkasa.

PT Bakrie & Brothers Tbk (JKSE:BNBR) cancelled the acquisition of 30% stake in PT Mitratama Perkasa from PT Sumber Energi Andalan Tbk on October 2, 2015.