Photo: Garibaldi Thohir (Adaro)
Investasimu.com. Indonesian tycoon, Garibaldi "Boy" Thohir is currently conducting a negotiation to acquire one of the securities companies in Indonesia, PT Trimegah Sekuritas Indonesia Tbk. (TRIM.JK). Based on the information released by TRIM, Advance Wealth Finance, Ltd. (AWF) as the controlling shareholder of TRIM is directly negotiating with Boy Thohir or an entity/consortium that will be lead or controlled by him for the takeover of the Company.
On 1 October 2021, both parties have signed a non-binding term sheet for the purchase of 3.5 billion shares of TRIM owned by AWF, representing 49.23% ownership. Both AWF and Boy Thohir have confirmed the takeover plan through their letters to the Authority.
Boy Thohir himself said that the acquisition plan of TRIM is for investment and developing his new business in the Indonesian capital market. If the transaction is completed, he will be the new controlling shareholder of the Company. As of the announcement date of the negotiation, He doesn't own, either directly or indirectly, shares issued by the Company.
The completion of the takeover plan will be subject to the results of the due diligence process and will be carried out if both parties have reached a final agreement on all matters related to business, commercial, financial, tax and legal aspects and have met with all preliminary and material provisions as will be stipulated in a sale and purchase agreement (SPA)
In addition, if the takeover plan has been completed, Boy Tohir as the new controlling shareholder will carry out a mandatory tender offer in accordance with applicable regulations.
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