PT Sri Rejeki Isman Tbk (IDX:SRIL) and PT Sinar Pantja Djaja entered into a conditional sale and purchase agreement to acquire PT Bitratex Industries from a group of sellers on December 12, 2017. The purchase agreement is amended on February 6, 2018. In a related transaction, PT Sri Rejeki Isman Tbk (IDX:SRIL) and PT Sinar Pantja Djaja entered into a conditional sale and purchase agreement to acquire PT Primayudha Mandiri Jaya from a group of sellers on December 12, 2017. The combined consideration for both the transaction is $85 million. On February 7, 2018, PT Sri Rejeki Isman Tbk completed the acquisition of 82% stake. The combined consideration for 82% stake in PT Bitratex Industries and PT Primayudha Mandiri Jaya was $69.7 million. The remaining 18% stake will be transferred to PT Sri Rejeki Isman Tbk and PT Sinar Pantja Djaja and will close on latter of March 20, 2018 and one business day after the approval of Indonesian Investment Cordinating Board of Koordinasi Penanaman Modal. The combined consideration of 18% stake in PT Bitratex Industries and PT Primayudha Mandiri Jaya is $15.3 million and will be paid in two installments with $7.3 million on March 20, 2018 and remaining upon confirmation of consideration or adjustment by the independent appraiser. On April 2, 0218, PT Sri Rejeki Isman Tbk signed a conditional sale and purchase agreement to acquire 18% stake in PT Bitratex Industries. As per the terms of the transaction disclosed on July 27, 2018, PT Sri Rejeki Isman Tbk is acquiring 37.9 million shares in Bitratex for $43.3 million in cash. The transaction is subject to approval by the shareholders of PT Primayudha Mandiri Jaya, all necessary regulatory and third party approvals, including approval from Badan Koordinasi Penanaman Modal and bank consents. The transaction is expected to help increase the sales and EBITDA as well as expand the export market of PT Sri Rejeki Isman Tbk. PT Sri Rejeki Isman Tbk (IDX:SRIL) and PT Sinar Pantja Djaja completed the acquisition of PT Bitratex Industries from a group of sellers in June 2018.