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PT Bahtera Bumi Raya Tbk Major Shareholder Change as Batu Investasi Indonesia Raises Ownership to 82.30%
Batu Investasi Indonesia increased its stake in PGJO from 61.96% to 82.30% by acquiring 162 million shares for Rp 180.5 billion. They initiated a Mandatory Tender Offer for the remaining shares at Rp 122 each, significantly below market price. PGJO is shifting focus from travel services to logistics, amidst concerns about profitability.