Samudera Indonesia acquires Samudera Terminal shares for US459.59 mln

JAKARTA ( – Shipping firm PT Samudera Indonesia Tbk (SMDR)said the company on May 2, 2016 shares of affiliated firm PT Samudera Terminal Indonesia (STI) for Rp822.06 billion or equals to US$59.59 million, representing 20.4 percent equity value of Samudera Indonesia.

Under the agreement, STI is now become a sub-holding terminal of the company. Both Samudera Indonesia and STI are controlled by the same company, namely PT Samudera Indonesia Tangguh (SIT). After acquisition, SIT holds 99.2 percent shares of STI and the remaining shares are owned by PT Samudera Wadah Mitra.

Samudera Indonesia, established in 1964, engages in shipping, transportation and logistic business. The company was found by Soedarpo Sastrosatomo. (*)

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