Jakarta - PT MNC Energy Investments Tbk (IATA) acquired an 85% stake in PT Suma Sarana (SS). The acquisition plan has been stated in the Binding Sale and Purchase Agreement (BSPA).

This acquisition scheme involves a 49% stake purchased directly by PT Bhakti Migas Resources (BMR), a subsidiary of IATA that focuses on oil and gas investment.

Then, as much as 36% of the shares were acquired by BMR in a BSPA (Binding Sale and Purchase Agreement), which would then be upgraded to a final Deed of Sale and Purchase after obtaining government approval for the change of controlling shareholder.

After the government approves the 36% acquisition, IATA will control 85% of SS shares through BMR.

"In the future, IATA will invite international operators to partner in operating the Semai III Block. This is one of the company's strategies to reduce capital expenditures and increase production efficiency, "said IATA's press release on Monday (4