Chandra Asri Acquires Two Krakatau Steel Subsidiaries

Chandra Asri has signed a Conditional Shares Sale and Purchase Agreement (CSPA) and Shareholders Agreement (SHA) for two subsidiaries belonging to PT Krakatau Sarana Infrastruktur ("PT KSI"), namely PT Krakatau Daya Electric ("PT KDL" ) and PT Krakatau Tirta Industri (“PT KTI”).

In the CSPA, it was agreed to plan to purchase PT KSI shares in PT KDL by Chandra Asri for 70% and PT KSI shares in PT KTI by Chandra Asri for 49% with a total value of IDR 3.24 trillion.

CSPA was signed on Friday (30/12/2022), followed by the signing of the Shareholders Agreement (SHA) on Tuesday (3/1/2023). The signing of the CSPA and SHA was carried out by the Main Director of PT KSI Agus Nizar Vidiansyah and President Director Chandra Asri Erwin Ciputra witnessed by the Main Director of PTKS Silmy Karim.