PT Tri Banyan Tirta Tbk entered into share and purchase agreement to acquire 99% stake in PT Tirtamas Abadi Berjaya from PT Tirtamas Anggada for approximately IDR 160 billion.

PT Tri Banyan Tirta Tbk (JKSE:ALTO) entered into share and purchase agreement to acquire 99% stake in PT Tirtamas Abadi Berjaya from PT Tirtamas Anggada for approximately IDR 160 billion in cash on June 4, 2013. PT Tri Banyan Tirta will acquire 0.13 million shares of PT Tirtamas Abadi Berjaya. The transaction is subject to approval of shareholders of PT Tri Banyan Tirta and completion of the limited public offering 1 of PT Tri Banyan Tirta.

As on November 28, 2013, shareholders of PT Tri Banyan Tirta approved the transaction.