Technology, Healthcare Sep 16, 2021 09:35 PM (GMT+8) · EqualOcean
Financial Associated Press, September 16 - Changhe and ooredoo group, an Indonesian telecom operator, issued a statement saying that the two companies agreed to merge their Indonesian business with an amount of US $6 billion and put the combined business into a newly established company Pt indosat ooredoo Hutchison. After the transaction, Changhe will own 50% equity of ooredoo Asia - by exchanging its 21.8% equity in indosat ooredoo Hutchison for 33.3% equity of ooredoo Asia, and acquire an additional 16.7% equity from ooredoo group at a cash price of US $387 million. Following the above transaction, the two parties will each own 50.0% equity of ooredoo Asia and change the name of the company to ooredoo Hutchison Asia, which will retain 65.6% control of the merged company.

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