BSDE — Planning to acquire 91.99% stake of SMDM

BSDE — Planning to acquire 91.99% stake of SMDM Bumi Serpong Damai (BSDE) is negotiating with Top Global Limited (TGL) to acquire a 91.99% stake in Suryamas Dutamakmur (SMDM), valued at IDR 1.6 tn. The acquisition aligns with BSDE's strategy to increase land reserves in strategic locations and diversify its geographic presence. Following the acquisition, BSDE will become the new controlling shareholder of SMDM and launch a mandatory tender offer for the remaining shares. Note that, BSDE' 1H24 pre-sales reached IDR4.84 tn or 51% of its 2024' pre-sales target. (Source: Bisnis Indonesia)