Jakarta - A subsidiary of PT Delta Dunia Makmur Tbk (DOID), PT Bukit Makmur Mandiri Utama (BUMA) through BUMA Australia Pty. Ltd. has completed the acquisition of Downer EDI Limited's (Downer) coal mining services business known as the Open Cut Mining East (Mining East) business in Australia.

DOID Corporate Secretary Olga Oktavia said all the conditions in the conditional agreement signed on October 11, 2021, had been met. The transaction, which includes the transfer of assets, employees, employee benefit liabilities, and Mining East contracts from Downer to BUMA Australia, was completed reflecting an acquisition cost of Aus$139 million (equivalent to US$99 million).

"The transaction value illustrates a material discount from a book value of more than Aus$200 million. The transaction is fully funded by a Bank Mandiri loan facility, which will be withdrawn in July 2021," he said in information disclosure in Jakarta, Monday (20/12).

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