PT Indocement Tunggal Prakarsa Tbk. announced the merger of two of its subsidiaries, PT Lintas Bahana Abadi (LBA) and PT Bahana Indonor (BI). The merger is intended to strengthen synergies and improve the efficiency of the Company’s distribution activities.
Under the merger, LBA will merge into BI, with BI acting as the surviving entity. LBA and BI are Indocement subsidiaries engaged in shipping and support the Company’s distribution activities.
Synergies to Support Indocement’s Distribution
The merger of LBA and BI forms part of Indocement’s management of its subsidiaries. Combining the two companies is expected to create synergies and support more efficient and integrated distribution activities.
Following the merger, the merged entity will have total assets of Rp400.8 billion. The merger is funded internally by the parties involved.
No Specific Impact on the Company’s Operations
The merger of LBA and BI does not constitute a material transaction for Indocement. It also does not constitute an affiliated transaction and/or a conflict-of-interest transaction as referred to in the applicable Financial Services Authority regulations.
Based on information provided by the Company, the merger will have no specific impact on Indocement’s operations, legal standing, financial condition, or business continuity.
Through this merger, Indocement continues its efforts to strengthen the management of its subsidiaries and sustainably support the Company’s distribution activities.
