PT Garuda Multi Investama agreed to acquire 69.8% in P.T. Mega Pratama Ferindo from PT Garuda Metalindo Tbk (JKSE:BOLT) for approximately IDR 280 billion on April 11, 2017. As per terms, 95,450 shares of P.T. Mega Pratama Ferindo will be acquired. The consideration comprises first payment of IDR 74 billion not later than April 12, 2017, second payment of IDR 120 billion not later than April 26, 2017 and third payment of IDR 85 billion at the signing of deed of transfer. As of May 8, 2017, the consideration was amended to IDR 297 billion. The transaction will be funded from internal cash and loans. The deal is subject to approval from shareholders of PT Garuda Metalindo Tbk, creditors and Indonesia Investment Coordinating Board. The deal is expected to close on June 30, 2017. PT Garuda Multi Investama cancelled the acquisition of 69.8% in P.T. Mega Pratama Ferindo from PT Garuda Metalindo Tbk (JKSE:BOLT) on April 11, 2018.