PT. Indal Investindo agreed to acquire an additional 55% stake in PT. UACJ-Indal Aluminum from UACJ Corporation (TSE:5741) on April 6, 2020. Post transaction, UACJ Corporation will not hold any stake in PT. UACJ-Indal Aluminum, PT. Indal Investindo and Toyota Tsusho Corporation will hold 95% and 5% stake in PT. UACJ-Indal Aluminum, respectively. Post transaction, PT. Indal Investindo will operate PT. UACJ-Indal Aluminum. Transaction is expected to complete by end of June 2020. Tomohisa Muranushi and Yutaka Kimura of Baker & McKenzie (Gaikokuho Joint Enterprise) acted as a legal advisor to UACJ Corporation.

PT. Indal Investindo completed the acquisition of an additional 55% stake in PT. UACJ-Indal Aluminum from UACJ Corporation (TSE:5741) on December 23, 2020.