IT infrastructure provider PT Inovisi Infracom plans to acquire a coal mining company in Kalimantan for $40 million, and expects to complete the deal in July, said Corporate Secretary Dria Soetomo, adding that the firm aims to boost profit up to 90 percent this year.
The coal miner owns mines in South and East Kalimantan that currently produce 3 million metric tonnes a year in total. Inovisi plans to issue bonds worth $70 million to finance the deal. (Kontan)
Note: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Jakarta Newsroom; Editing by Anand Basu)