PT Mitra Adiperkasa Tbk (MAPI), a prominent entity within the MAP Group, has officially welcomed new majority ownership. Pacific Universal Investments Pte. Ltd., a Singapore-based company, has successfully acquired 8.46 billion shares, representing a significant 51% stake in the publicly traded company.
This substantial acquisition, valued at Rp 11.81 trillion, was executed at a price of Rp 1,395 per share. The shares were purchased from PT Satya Mulia Gema Gemilang, marking a pivotal moment in MAPI’s corporate history.
Following the announcement of this acquisition, MAPI’s stock experienced a notable surge, climbing 12.36% or 160 points to reach Rp 1,455 per share. This market reaction underscores investor confidence in the implications of the ownership change.
Sean Gustav Standish, a Director at MAPI, stated that the primary objective of this takeover is to accelerate the expansion of the MAPI group’s business operations, not only within Indonesia but also across the broader Southeast Asian region. This strategic move signals an ambitious outlook for the company’s future growth.
Standish further elaborated on the existing ties between Pacific Universal and MAPI, citing common leadership roles as a key factor. Sean Gustav Standish Hughes holds directorships in both MAPI and Pacific Universal, highlighting a pre-existing connection. Additionally, Zoee Ho Ziwei, a Commissioner at MAPI, also serves as a Director for Pacific Universal, further solidifying this relationship.
As the new controlling shareholder, Pacific Universal, in collaboration with CVC Capital Partners, will orchestrate a mandatory tender offer (MTO). This will be carried out by Samudra (Investment) Pte. Ltd. (SIPL) and Ocean Continuum Pte. Ltd. (OCPL), in strict adherence to the regulations outlined in Article 8 of POJK Number 9 of 2018.
The ownership structure for SIPL and OCPL reveals that Pacific Universal indirectly holds a 51% stake, while funds managed or advised by CVC Capital Partners plc and its affiliates own the remaining 49%. This partnership aims to ensure a smooth transition and compliance with regulatory requirements.
In accordance with prevailing regulations, the mandatory tender offer will propose a price of Rp 1,550 per share for public shareholders. This offer represents a premium over the acquisition price, reflecting a commitment to fair value for all stakeholders during this ownership transition.
Summary
Pacific Universal Investments Pte. Ltd., a Singapore-based firm, has acquired a 51% stake in PT Mitra Adiperkasa Tbk (MAPI) for Rp 11.81 trillion. The transaction involved purchasing 8.46 billion shares at Rp 1,395 each to accelerate the group’s business expansion across Indonesia and Southeast Asia. Following the announcement, MAPI’s stock price rose significantly, signaling positive market reception to the ownership change.
As part of the acquisition, Pacific Universal and CVC Capital Partners will execute a mandatory tender offer for public shareholders at a premium price of Rp 1,550 per share. This strategic transition is facilitated by shared leadership roles across both organizations, ensuring operational continuity. The partnership aims to enhance the company’s growth outlook while maintaining strict adherence to regional financial regulations.
