MTBS M&A, the specialised corporate finance advisory firm in the port and maritime sector, is pleased to have supported Meratus Group (“Meratus”) on its acquisition of an 80.19% stake in PT ICTSI Jasa Prima Tbk (“ICTSI Jasa Prima” or “IJP”) from ICTSI Far East Pte. Ltd (“ICTSI Far East”). Completion took place on 1 February 2024, and Meratus’ eventual shareholding in ICTSI Jasa Prima is subject to the outcome of the subsequent mandatory tender offer.

Through the acquisition of ICTSI Jasa Prima, Meratus Group now indirectly controls PT PBM Olah Jasa Andal (“OJA”). OJA is a private container terminal operator situated within the Port of Tanjung Priok, Indonesia’s largest container port. Under its cooperation agreement with Pelindo, OJA provides stevedoring activities and related services along berths 300 – 303, with its primary responsibility being the supply, maintenance and operation of container handling equipment. In 2023, OJA handled just over 182,000 TEU.

MTBS M&A, as exclusive transaction and financial advisor, supported Meratus throughout the transaction process. Following the formulation of the non-binding offer, MTBS M&A managed the due diligence process and supported Meratus in the deal structuring and commercial negotiations.

Farid Belbouab, CEO of Meratus Group, said: “I express sincere appreciation for MTBS M&A, who has accompanied us along the acquisition process with their professionalism and were very responsive during the time when expert advice was needed. Overall we value our partnership in this project and look forward to working together with them again in our future plans.”

Meratus Group is a leading Indonesian maritime and logistics operator. With more than 100 vessels operating across 40 routes in Southeast Asia, 30 network agencies, 15 container logistic centers, and a couple of terminals, Meratus Group aims to support trade connectivity and simplify the supply chain journey of its customers.

MTBS M&A is a corporate finance advisory firm with a unique specialisation in the port and maritime sectors. We assist our clients in achieving their strategic objectives by providing independent advisory services relating to acquisitions, mergers, joint ventures, divestments, and other types of transactions involving a transfer of ownership. MTBS M&A is a part of MTBS, which is, for over 15 years, the leading advisory firm in the ports sector, advising both public and private clients.

Press Release of Meratus Group: https://www.meratus.com/en/guest/news/detail/65/meratus-strengthens-its-position-as-through-a-strategic-acquisition-of-pt-ictsi-jasa-prima-tbk-ijp