Stock Price PGN Betah in the red zone, what's up?

Previously, PT Perusahaan Negara Gas Tbk (PGAS) or PGN called Whole Pertamina entered into significant transactions by acquiring 51 percent shares of Pertagas, which is a subsidiary of Pertamina.

The transaction includes affiliated and large transactions. The affiliation transaction due to PT Perusahaan Gas Negara Tbk or called PGN and Pertamina is an affiliated party controlled directly and indirectly by the Indonesian Government.

Although the transaction is a material transaction under Rule IX.E.2 because the value of the transaction is greater than 20 percentage but less than 50% of the company's equity, according to its financial statements . Similarly, as quoted from the disclosure of information on the Indonesia Stock Exchange (IDX), Tuesday, July 3, 2018.

As for the acquisition of shares Pertagas with a sale of 2,591,099 shares held by Pertamina in Pertagas or equivalent to 51% of all deposited in Pertagas

The overall value of the transactions in the initial agreement on the acquisition of 51 percent stake in Pertagas is this amount corresponds to 38.46% of the equity of the company on the basis of the financial statements of the company

"The Company will use internal financing and loans", as indicated in the statement.

The transaction value represents the purchase price of 2,591,099 shares pertaining to Pertamina in Pertagas with PT Perta Arun Gas, PT Perta Daya Gas, PT Perta Samtan Gas and PT Perta Kalimantan Gas were issued from the book of Pertagas, so that there is only PT Pertagas Niaga as a subsidiary in Pertagas' book

will be carried out within seven working days from the date of receipt of the minutes of the preliminary conditions signed by parties, but shall not exceed 90 days from the date of signature of the agreement or on any other date agreed in writing between the parties.

The context of this transaction stems from one of the Government of Indonesia's initiatives to stimulate the economy and national energy resilience by creating or holding a holding company in the oil and gas field. of oil and gas belonging to the state

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