Tag: Pertagas

Pressures from Pertamina Workers

Around 300 workers of state oil and gas company Pertamina in East Kalimantan staged a public rally in Balikpapan yesterday to protest the government’s decision to consolidate Pertagas, a gas transmission and distribution...

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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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Update on the Integration of PGN with Pertagas

The Ministry of State-onwed Enterprises (SoE) has decided the scheme of merger of PT Perusahaan Gas Negara (PGN) (PGAS) and PT Pertamina Gas (Pertagas). PGN is set to acquire Pertagas and PGN will become the subholding for gas business. On June 29, 2018 PGN will hold their extraordinary general meeting (EGM) of shareholders to seek the approval of the said acquisition.

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M&A Update

PT Kreatif Media Karya (KMK), subsidiary of Elang Mahkota Teknologi (EMTK) controlled by the Sariaatmadja Family (Emtek Group), is acquiring PT Kapan Lagi Dot Com Networks (KLN), operator of online news Kapanlagi.com. KLN is set to acquire PT Liputan Enam Dot Com, a subsidiary of EMTK which manages digital media such as Liputan6.com, Bintang.com, and Bola.com.

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