DOOH subsidiary agrees to buy 29.88% of INET for Rp2 trillion
The agreement does not transfer control of INET or give the buyer rights to appoint directors or commissioners, according to company disclosures.
PT Era Media Sejahtera Tbk (DOOH), through subsidiary PT Cakrawala Nexus Investama (CNI), has signed an agreement to buy a 29.88% stake in PT Sinergi Inti Andalan Prima Tbk (INET) for Rp2 trillion, according to an Indonesia Stock Exchange disclosure cited on 6 November 2026.
The purchase covers 6,685,000,000 shares held by PT Abadi Kreasi Unggul Nusantara (AKUN), priced at Rp300 each. CNI and AKUN signed the binding share sale agreement on 1 September 2026, with the transaction to be carried out through the exchange's negotiated market.
DOOH said the deal would provide access to a larger listed internet and telecommunications platform. It expects links between INET's internet services, data-centre development, submarine-cable construction and maintenance capabilities, and DOOH's media operations. Those operations include Free WiFi Ads at 80 stations and 304 PID units in KRL commuter-train carriages requiring connectivity and data.
Under the disclosed arrangements, AKUN remains INET's controlling shareholder after the transaction, holding 6,688,689,331 shares, or 29.89%. CNI receives no right to appoint directors or commissioners, determine INET's management or policies, and is not acting jointly with AKUN. INET's explanation to the exchange, dated 6 October 2026, also identified Adhie M. Massardi as continuing ultimate beneficial owner.
The transaction value represents 647.90% of DOOH's consolidated equity of Rp309.54 billion as at 30 June 2026. DOOH classified it as a material transaction under OJK Regulation No. 17/2020 because it exceeds 50% of equity. Although DOOH owns 99.99% of CNI, the company said the purchase is neither an affiliated transaction nor a conflict-of-interest transaction because buyer and seller are not affiliated.
