Indika Energy Signs Conditional SPA to Purchase CCOW 3rd Generation Coal Company

PT Indika Energy Tbk. announces that wholly-owned subsidiaries of the company, PT Indika Indonesia Resources and Indika Capital Pte. Ltd. have signed conditional sale and purchase agreements (CSPA) to acquire, together with a co-venturer, 100% of PT Multi Tambangjaya Utama (“MTU”) as well as its coal distribution rights for a combined indicative purchase price of approximately US$155 million, excluding outstanding debt. Upon closing, IIR and IC will hold a majority stake of 85% in this venture.