AGII Consolidates Gas Business, Plans to Acquire Samator Gas Plants’ Assets worth IDR 683.4 billion
By Press Release29 December 2020
Jakarta, 29 December 2020 – PT Aneka Gas Industri Tbk (Bloomberg Code: AGII IJ or "the Company") directly and through its subsidiary PT Samator Gas Industri ("SGI") has entered a Sale and Purchase Agreement of Fixed Assets and Rental Agreement of Land and Buildings ("Transactions" ) for 2 (two) assets owned by PT Samator (“Samator”), which is currently the major shareholder in the Company. Total transaction value reached IDR 683.396 billion.
President Director of AGII, Rachmat Harsono, stated “We have long intended to consolidate our entire industrial gas business under the operations and management of PT Aneka Gas Industri Tbk. Through this transaction, we hope that our industrial gas business can be managed under a more efficient structure, able to incur lower costs, and catalyze an even more sustainable gas supply. Some of the advantages that will also arise from this transaction are additional market share for the company, as well as potential acceleration revenue as well as profit growth. Currently, we are the industrial gas provider with the largest network in Indonesia, and this acquisition will help further strengthen our position as market leader”.
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