State cement maker Semen Indonesia (SMGR) announced that it will acquire 7.49 billion shares in small cement firm Semen Baturaja (SMBR), representing 75.51% enlarged capital, after president Joko ‘Jokowi’ Widodo signed Government Regulation (PP) No. 33/2022, regarding transfer of government’s B series in SMBR to SMGR. The transaction or privatization through rights issue scheme is scheduled for December this year.
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