PT Greenwood Sejahtera Tbk (JKSE:GWSA) agreed to acquire 99.83% stake in PT Trisakti Makmur Persada from PT Pancatri Makmur Jaya for IDR 3.4 billion on April 16, 2014. Greenwood will acquire 599 shares of Trisakti Makmur. A deed of sale and purchase of shares will be signed on May 19, 2014 and also the full payment of IDR 3.41 billion will be transferred to Pancatri Makmur. Greenwood Sejahtera will use the proceeds from obtained from IPO to fund these transactions.

Trisakti Makmur reported total assets of IDR 523.52 billion and net liabilities of IDR 36.16 billion as on December 31, 2013. The transaction is subject to satisfactory examination result of Trisakti Makmur with the absence of tax debts, approval from shareholders of Pancatri Makmur, Trisakti Makmur's repayment of its debt to Pancatri Makmur and all approvals including from creditors of Trisakti Makmur. PT Clipan Finance Tbk as the creditor of Trisakti Makmur Persada has approved the transaction on April 15, 2014. KAP Osman Bing Satrio & Eny acted as accountant in the transaction. KJPP Iskandar Dan Rekan and KJPP Hari Utomo Dan Rekan acted as valuers in the transaction. Kantor Hukum Budiarto Law Partnership acted as legal advisor to PT Trisakti Makmur Persada.

PT Greenwood Sejahtera Tbk (JKSE:GWSA) completed the acquisition of 99.83% stake in PT Trisakti Makmur Persada from PT Pancatri Makmur Jaya on May 19, 2014.