PT Sarana Agro Investama launched the tender offer for 1.1 billion shares of plantation company JA Wattie (JAWA), representing 29.49% of enlarged capital, priced at Rp150 per share or Rp278.3 billion in total. The tender offer period starts October 4, 2017 until November 2, 2017. The payment is scheduled for November 14, 2017. Sarana Agro acquired 2.66 JAWA shares in Sept 6, 2017 from PT Sinar Kasih Abadi, representing 70.51% of enlarged capital. Public investors hold 29% JAWA shares. Sarana Agro is controlled by PT GMT Kapital Asia. GMT Kapital’s shareholders are Irwan Atmaja Dinata (27.5%), Adi Indarto Hartono (22.5%), Theodorus Marto Sutiono (22.5%), Djaja Mulia (22.5%), and DR. Ir. Kusmayanto Kadiman (5%).