PT Samudera Terminal Indonesia entered into agreement to acquire 93.33% stake in PT Pelabuhan Samudera Palaran from PT Samudera Indonesia Tbk (JKSE:SMDR) for approximately IDR 490 billion on May 2, 2016. Under the terms of the transaction, 0.14 million series A shares and 0.7 million series B shares of Pelabuhan Samudera will be acquired for IDR 140 billion and IDR 349.99 billion respectively. In related transactions, PT Samudera Terminal Indonesia agreed to acquire PT Prima Nur Panurjwan and PT Perusahaan Bongkar Muat Tangguh Samudera Jaya. PT Samudera Terminal Indonesia will issue total 0.82 million shares as consideration for the acquisition of PT Pelabuhan Samudera Palaran, PT Prima Nur Panurjwan and PT Perusahaan Bongkar Muat Tangguh Samudera Jaya, out of which, 56.98% new shares constitute as payment for shares in PT Pelabuhan Samudera Palaran. For the year ended December 31, 2015, PT Pelabuhan Samudera Palaran reported total assets of IDR 520 billion and total equity of IDR 164.8 billion. Ivan Almaida Baely & Firmansyah Law Firm acted as legal advisor in the transaction. KAP Osman Bing Satrio & Eny and Ernst & Young acted as accountants to PT Samudera Indonesia. KAP Hendrawinata Eddy Siddarta & Tanzil acted as accountant to PT Samudera Terminal Indonesia. PT Samudera Terminal Indonesia cancelled the acquisition of 93.33% stake in PT Pelabuhan Samudera Palaran from PT Samudera Indonesia Tbk (JKSE:SMDR) on May 2, 2017.