IPS RESEARCH UNTR: United Tractor (UNTR IJ; Rp17,200; Buy) has signed a Memorandum of Understanding ("MOU") with two shareholders of PT Acset Indonusa Tbk (ACST IJ, Not Rated, Rp3,330), namely PT Loka Cipta Kreasi dan PT Cross Plus Indonesia, to acquire of at least 250,500,000 (two hundred and fifty million five hundred thousand) shares in ACST ("Transaction") by UNTR or its subsidiary. The purpose of the acquisition is to expand and support UNTR?s main business.The completion of this transaction will be depending on the outcome of negotiations between the parties and the fulfillment of the terms and conditions of the MOU and any other related agreements. In the event if the transaction will cause change of control of ACST, UNTR or its appointed subsidiary will proceed with Mandatory Tender Offer. (Company) Comment: ACST acquisition is part of UNTR?s diversification strategy amid the continuous weak coal outlook. As ACST is a construction company focuses on high ri...
