Jakarta - PT Indonesia Transport and Infrastructure Tbk (IATA) signed a memorandum of understanding to acquire PT MNC Energi from PT MNC Investama Tbk (BHIT) as the majority shareholder.

"After the transaction, IATA will become the parent entity for all coal companies of the MNC Group," said IATA Corporate Secretary Andi Tenri Dala Fajar in information disclosure on the IDX on Monday (18/10).

IATA is preparing to take over PT Bhakti Coal Resources, a coal mining exploration and producer company in South Sumatra which is also the parent company of companies holding Mining Business Permits such as PT Putra Muba Coal, PT Bhumi Sriwijaya Perdana Coal, PT Indonesia Batu Prima Energi, PT Arthaco Prima Energi, PT Sumatra Resources, PT Energi Inti Bara Pratama, PT Sriwijaya Energi Persada, PT Titan Prawira Sriwijaya, PT Primaraya Energi, and PT Putra Mandiri Coal which in total have an estimated resource of 1.75 billion MT and an estimated reserves of 750 milli