PT Pool Advista Indonesia Tbk (JKSE:POOL) entered in an agreement to acquire 99.99% stake in PT Indojasa Pratama Finance from PT Indojasa Utama and Freddy Gunawan for approximately IDR 250 billion on May 12, 2016. PT Pool will acquire 98.75% stake in PT Indojasa Pratama Finance from PT Indojasa Utama and 1.24% stake from Freddy Gunawan. Post-acquisition, PT Indojasa Utama will retain 0.01% stake in PT Indojasa Pratama Finance. In a related deal, PT Pool Advista Indonesia Tbk (JKSE:POOL) entered into an agreement to acquire 99% stake in Kharisma Asset Management from PT Ramayana Artha Perkasa and Partoyo MSc. for IDR 88 billion on May 12, 2016. PT Pool Advista Indonesia Tbk will use the proceeds from offerings of IDR 342 billion to acquire shares of 99.99% shares in PT Indojasa Pratama Finance. PT Indojasa Pratama Finance reported IDR 234.7 billion of total assets, IDR 16.6 billion of total liabilities, IDR 216.1 billion of total equity, IDR 20.9 billion of revenue and IDR 44.7 billion of loss as of December 31, 2015.

The transaction is subject to approval of shareholders of PT Indojasa Utama and PT Indojasa Pratama Finance, approval from spouse of Freddy Gunawan, approval from Financial Services Authority and obtainment of Registration Effective Statement from Financial Services Authority on rights offering of PT Pool Advista Indonesia. The transaction is expected to close after 30 days following the fulfillment of conditions. KAP Tjahjadi & Tamara acted as accountant, KJPP Jennywati, Kusnanto & Rekan and KJPP Yanuar Bey dan Rekan acted as public appraiser for PT Pool Advista Indonesia Tbk. KAP Mulyamin Sensi Suryanto & Lianny acted as accountant for PT Indojasa Pratama Finance.

PT Pool Advista Indonesia Tbk (JKSE:POOL) completed the acquisition of 99.99% stake in PT Indojasa Pratama Finance from PT Indojasa Utama and Freddy Gunawan on September 1, 2016.