PT Magna Finance Tbk (JKSE:MGNA) signed an agreement to acquire 94.1% stake in PT Padi Unggul lndonesia from Sutan Agri Resources Private Limited for IDR 63 billion on January 9, 2017. Under the terms, 0.2 million shares will be acquired at IDR 0.3 million per share. The consideration will be financed from sale of assets, receivables and also internal cash. The deal is subject to approval from shareholders of PT Magna Finance Tbk. The transaction is expected to close in March 2017. KAP Tjahjadi & Tamara acted as accountant and KJPP Firman Suryantoro Sugeng Suzy Hartomo & Rekan acted as appraiser for PT Magna Finance Tbk. KAP Hendrawinata Eddy Siddarta & Tanzil acted as accountant for PT Padi Unggul lndonesia. PT Magna Finance Tbk (JKSE:MGNA) cancelled the acquisition of 94.1% stake in PT Padi Unggul lndonesia from Sutan Agri Resources Private Limited for IDR 63 billion on January 9, 2018.