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Friday, 26 August 11
TUAH TURANGGA AGUNG ACQUIRES AN ADDITIONAL 40% SHARES IN BARA PRIMA AGUNG


COALspot.com - PT Tuah Turangga Agung, a subsidiary of PT United Tractors Tbk, has signed an acquisition agreement to acquire 40% of PT Bara Prima Agung, for US$ 10.6 million on August 24, 2011. 

With the additional purchase of shares, PT Tuah Turangga Agung now controls 100% stake in PT.Bara Prima Agung, according to the letter issued by company to Indonesian stock exchange.

PT. Bara Prima Agung is a company engaged in coal mining and holding production license ( IUP) as per approval letter 266/Distamben Regent Kapuas No. 2011, dated July 20, 2011 concerning the approval of business permits mining production operations.

Bara Prima Agung coal concession is located in the village of Buhut, Central Kapuas district ,Central Kalimantan province, with area of approximately 1,271 hectares.

Tuah Turangga Agung, recently agreed to acquire 60% stake in PT Duta Nurcahy a holder of a coal mining license in Hurung village, Juju Baru, North Barito, Central Kalimantan. PT Duta Nurcahy is holding 4,999 hectares of coal concession in Central Kalimantan.

To contact the reporter responsible on this story: Efendi at
efendi@coalspot.com



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