Here is a list of prominent Indonesian conglomerates actively involved in acquiring public companies:
Recent Acquisition: Through its subsidiary, Metro Pacific Tollways Indonesia Services, Salim Group acquired 84.8% of PT Nusantara Infrastructure Tbk (META) via a voluntary tender offer in March 2024. This move is part of a plan to delist META and streamline its infrastructure operations. PwC
Notable Activity: Sinar Mas has been involved in significant acquisitions, including the takeover of Berau Coal Energy from Asia Resource Minerals PLC. Additionally, in 2024, Sinar Mas was in discussions with Malaysia's Axiata Group to merge their telecom units, Smartfren and XL Axiata, aiming to create a major telecom entity in Indonesia. Wikipedia+1WSJ+1WSJ
Key Deal: In December 2021, Emtek, via its subsidiary PT Elang Media Visitama, acquired a 93% stake in PT Bank Fama International for approximately IDR 908.95 billion. This acquisition marked Emtek's entry into the banking sector. VOI+1IDN Financials+1
Backdoor Listing: In 2021, Agung Sedayu Group entered the capital market by acquiring an 80% stake in PT Pratama Abadi Nusa Industri Tbk (PANI), a manufacturer of metal containers. This strategic move facilitated the group's presence in the public market. VOI
Strategic Acquisition: Djarum Group, through its e-commerce arm Blibli, acquired a 51% stake in PT Supra Boga Lestari Tbk (RANC), a supermarket chain. This acquisition aimed to expand Djarum's retail ecosystem. VOI
Major Investment: In 2014, Rajawali Group acquired a 51% stake in PT Eagle High Plantations Tbk (BWPT). Subsequently, BWPT conducted a rights issue to acquire Green Eagle Group, consolidating Rajawali's palm oil assets. VOI
International Expansion: In July 2024, Delta Dunia Group completed a $122.4 million acquisition of Atlantic Carbon Group, which owns anthracite coal mines in Pennsylvania, USA. This acquisition is part of Delta Dunia's strategy to diversify its revenue sources and reduce reliance on thermal coal. Reuters
Energy Sector Acquisitions: MedcoEnergi has been active in acquiring energy assets, including the 2019 acquisition of Ophir Energy for $517.6 million and the 2021 agreement to acquire ConocoPhillips Indonesia Holding Ltd's assets. Wikipedia
Mining Acquisition: In September 2023, Petrindo Jaya Kreasi signed an agreement to acquire 100% of PT Multi Tambangjaya Utama (MUTU) for $218 million, aiming to enhance operational performance and supply chain integration in the coal sector. petrindo.co.id
Historical Acquisitions: Bakrie Group has a history of significant acquisitions, including the 2003 purchase of an 80% stake in PT Arutmin Indonesia from BHP Minerals Exploration Inc. The group has also been active in various sectors such as telecommunications and oil & gas. Wikipedia
These conglomerates have played pivotal roles in shaping Indonesia's corporate landscape through strategic acquisitions and expansions across various sectors.