Rimau Group Extends Term Sheet for GRPM Acquisition Amid Share Price Drop

Rimau Group has extended its term sheet for the acquisition of shares in PT Graha Prima Mentari Tbk (GRPM), a Coca-Cola distributor, until December 31st, 2026.

The agreement is non-binding and aims to provide sufficient time for negotiations between Rimau Group and PMUI, GRPM's controlling shareholder.

As previously reported, the share price of GRPM surged by more than 600% ahead of the planned acquisition, but has since fallen 66% to IDR 170 per share since the signing of the term sheet.

The combined shareholding of PMUI and its president director Agus Susanto amounts to 78.64%, with a total of 1.21 billion shares up for sale to Rimau Group, assuming the transaction is executed at the current market price, it would amount to IDR 206.55 billion.