CDIA – To acquire a 40% stake in CUAN’s shipping subsidiary

CDIA – To acquire a 40% stake in CUAN’s shipping subsidiary Chandra Daya Investasi (CDIA), through its subsidiary Chandra Shipping International (CSI), has signed a conditional share subscription agreement with Petrindo Jaya Kreasi (CUAN) and Armada Maritim Persada (AMP). Under the agreement, CSI will invest USD90mn by subscribing to newly issued shares in AMP, resulting in a 40% ownership stake. The investment is intended to support AMP’s business expansion while providing long-term economic benefits to CDIA through potential investment value appreciation and future dividend income. No timeline for transaction completion or additional financial guidance was disclosed. (Source : Kontan)