Miner Paragon seals $50m move into Indonesian shipping

AI Summary

Paragon Karya Perkasa, a Jakarta-listed mining and energy support company, has completed a $50 million takeover of PT Deli Pratama Angkutan Laut, gaining control of its domestic coal shipping platform of 34 vessels. The acquisition involved purchasing Series A shares from Singapore-listed Resources Global Development.

Jakarta-listed mining and energy support company Paragon Karya Perkasa has completed a Rp890bn ($50m) takeover of PT Deli Pratama Angkutan Laut, bringing a domestic coal shipping platform of 34 vessels under direct control. Paragon acquired 6,125 Series A shares from Singapore-listed Resources Global Development. The stake represents 50.52% of DPAL’s Series A shares and 49% …