Jakarta - PT Dian Swastatika Sentosa Tbk (DSSA), through its subsidiary Standmore Resources Limited, plans to take over 80% of Dampier Coal (Qld) Pty Ltd shares owned by BHP Minerals Pty Ltd (BHP) to BHP Mitsui Coal Pty Ltd (BMC).

This planned takeover was marked by signing a sale and purchase agreement between Stanmore and BHP on November 8, 2021.

The company plans to make payments for the proposed transaction in stages, using a combination of internal and external funding.

The payment terms are US$1.1 billion due upon completion of the proposed transaction, US$100 million due six months after the completion of the proposed transaction, and US$150 million under a revenue-sharing mechanism if the average selling price is above a certain threshold. over two years with maturities within three months after the end of the test period expected in 2024.

"Completion of the planned transaction will take place in mid-2022," said DSSA Corporat