PT Patin Resources made an offer to acquire 12.3% stake in PT Trans Power Marine Tbk (IDX:TPMA) for IDR 94.7 billion on January 14, 2020. Pursuant to the terms of the transaction, PT Patin Resources will acquire 323.35 million shares at a price of IDR 293 per share. PT Patin Resources has sufficient funds to carry out this transaction. Mandatory tender offer will not be cancelled after the mandatory tender offer is announced, except with OJK's approval. Both PT Patin Resources and PT Trans Power Marine Tbk's shareholders approval are not required for this offer. There is no agreement or other provisions determined by the government that must be fulfilled by PT Patin Resources in connection with this offer. The tender offer period will start from January 15, 2020 and will end on February 13, 2020. In this transaction, The Yang Securities Company appointed for PT Trans Power Marine Tbk.