PT Alam Karya Unggul Tbk (JKSE:AKKU) and Ario Harsanto entered into a sale and purchase of shares agreement to acquire PT Borneo Mining Kontraktor from Andri Boenjamin and Saksono Boenjamin for IDR 15.1 billion on March 23, 2013. PT Alam Karya Unggul will acquire 2,204 shares from Andri Boenjamin, 945 shares from Saksono Boenjamin and Ario Harsanto will acquire 1 share of PT Borneo Mining Kontraktor from Andri Boenjamin. PT Alam Karya Unggul will assume debt of IDR 13.5 billion of PT Borneo Mining Kontraktor.

Following the completion of the deal, PT Alam Karya Unggul Tbk will hold 99.97% stake and Ario Harsanto will hold 0.03% stake in Borneo Mining Kontraktor. PT Alam Karya Unggul will borrow IDR 14.2 billion from Bright Broadway Group Ltd to fund the acquisition of Borneo Mining and refinance the debt. The transaction is subject to certain conditions in the sale and purchase agreement.

As of June 12, 2013, the transaction has been approved unanimously by the shareholders of PT Alam Karya Unggul. H. M. U. Fachri Asaari SH acted as legal advisor for the transaction.