China's Qinfa (00866) subsidiary plans to acquire all shares of PT Widyanusa Mandiri

Zhitong Finance App News, China's Qinfa (00866) issued an announcement. On March 28, 2025 (after the transaction period), these sellers entered into such sales agreements with the buyers Skyrim Energy Investment Co., Ltd. and Hong Kong Qinfa Trading Co., Ltd. (a wholly-owned subsidiary of the company). Based on this, the seller 1PT Cakrawala Karya Energy has agreed to sell, and Buyer 1 has agreed to buy 99% of the target company Widpt Yanusa Mandiri's shares, with a total cash cost of IDR 140.21 billion (equivalent to IDR 140.21 billion) At about US$8.5 million); and seller 2 Asrullah S has agreed to sell, and buyer 2 has agreed to buy 1% of the target company's shares, with a total cash cost of IDR 50 million (equivalent to about US$3,000). Upon completion, the company will own 100% of the target company's shares through these buyers.

The announcement stated that the directors have carefully considered the current business environment and future prospects of the target company and SDE. They believe that these acquisitions provide a unique opportunity to strengthen the Group's control over SDE, and SDE's 15% saleable coal rights will be a strategic asset in the group's investment portfolio. This will enable the Group to allocate resources and management costs more effectively, thereby strengthening the Group's position in the coal mining industry and enhancing the Group's operational efficiency, overall performance and profitability. SDE's 15% marketable coal rights are expected to flow to the Group in the future.