Corporate Actions to Watch

State-owned gas distributor Perusahaan Gas Negara (PGAS) has officially acquired 51% stake in PT Pertamina Gas (Pertagas) at a value of US$1 billion. PGAS and Pertamina, holding of Pertagas, signed the conditional sales purchase agreement (CSPA) on Friday (June 29) on this acquisition. According to the source close to the deal, the next step is to complete the transaction within 90 days.

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