Artotel Eyes Backdoor Listing through Dafam Acquisition

By Editorial Team 09/12/2021
M&A
Summary

Artotel Group has officially become the controlling shareholder of Dafam Hotel Management after acquiring an 80 percent stake. After the acquisition, Dafam Hotel's financial statements are no longer consolidated into its parent company, PT Dafam Property Indonesia Tbk (DFAM).

Based on the prospectus, Artotel's equity participation in Dafam Hotel was carried out by taking a portion of all company's depository receipts consisting of 8,000 shares worth Rp 8 billion. The company settled the transaction on December 3, 2021. For the record, Dafam Hotel Management controls 2,507 rooms at 24 hotels in Indonesia, meaning that after the acquisition, Artotel Group's total inventory will increase to 5,000 rooms at 50 hotels.

Register now and get free access.

If you want to get free access to our Daily Insights and Weekly Digest, please click "Sign up" button below. If you already have an account, please login.

Sign up
Log in
What do subscribers receive?

As a subscriber, you'll receive daily insights, weekly business digests, and quarterly industrial reports.

What kind of pieces will i get?

In-depth reports on assumption and impact analysis, as well as update and trends mapping, written by our credible and experienced analysts.

And, there is something else…

Register now and get free access, click here to register. Feel free to contact us with any additional questions you have.