Indika to acquire MBSS

IDX-listed energy firm PT Indika Energy Tbk announced that it has on November 2011 entered into an Option Agreement to acquire a majority 51 % stake of PT Mitra Bahtera Segara Sejati (MBSS), an integrated coal transport & logistics services company from Prasatya Family. 

Following the agreement, Indika Energy will conduct a customary due diligence on the shipping and barging company that provides logistics services to Indonesian coal companies as well as international customers. 

“This intended acquisition is in line with our strategic plan to further strengthening the group’s energy value chain to be a leading integrated energy player,” said Arsjad Rasjid, President Director, Indika Energy. “Besides diversifying the Group’s revenue stream, MBSS expertise will also provide complementary business offerings that meet the energy logistics needs of our existing and new customers.”

“This is a significant development for MBSS. We have chosen to partner with Indika Energy because we want to be associated with a credible and growing integrated energy company as well as to ride on the group’s strong growth opportunities,” said MBSS’ J.R. Bing Prasatya. “We are confident that going forward this two companies will derive great synergies from each other’s capability and resources to collectively drive a more robust business pipeline.”

MBSS is Indonesia’s second largest coal transporter and logistics providers with fleet of tugs and barges and transshipment facilities. MBSS is currently conducting business in one stop fully integrated solutions to the logistical needs of the Indonesia coal industries ranging from shore based barge loading facility to the offshore loading of ocean going to vessels. 

MBSS’s stop customers are Adaro Indonesia, Kaltim Prima Coal, Kideco Jaya Agung, Bukit Asam, Arutmin, Berau Coal and Indominco Mandiri. MBSS has transported more than 25 million tones of coal in 2009. Indika Energy is Indonesia ‘s leading integrated energy company through its diversified investments in the areas of energy resources, energy services and energy infrastructure through its strategic investments in the areas of coal production (PT Kideco Jaya Agung);engineering, procurement and construction services (Tripatra); engineering, mining and construction contractor & services (PT Petrosea Tbk) ;and a power generation project (PT Cirebon Electric Power).