PT Semesta Indah acquired 99.99% stake in PT Nirvana Retailindo from PT Nirvana Development Tbk (JKSE:NIRO) for IDR 10.3 billion in cash on December 21, 2015. PT Semesta Indah acquired 0.1 million shares of PT Nirvana Retailindo. In related transactions, PT Semesta Indah acquired 99.99% stake in PT Nirvana Realty for approximately IDR 610 billion and 99.99% stake in PT Nirvana Hotel & Resort for IDR 12.5 billion from PT Nirvana Development Tbk on December 21, 2015. PT Nirvana Retailindo reported total assets of IDR 10.47 billion as of December 31, 2014. KAP Tanubrata Sutanto Fahmi & Rekan acted as accountant for PT Nirvana Development Tbk and KJPP Ihot Dollar & Raymond acted as public appraiser in the transaction.

PT Semesta Indah completed the acquisition of 99.99% stake in PT Nirvana Retailindo from PT Nirvana Development Tbk (JKSE:NIRO) on December 21, 2015.