China Bester Group Telecom (603220.SH) plans to acquire a 55% stake in Semesta for $25 million.

China Bester Group Telecom (603220.SH) announced that its controlling subsidiary, Bester Telecom International Limited (referred to as "Bester Telecom International"), plans to acquire 55% equity of PT. Semesta Energi Services (referred to as "Semesta") with its own funds of $25 million. PT. Semesta Energi Services is a well-known Indonesian communication and energy infrastructure construction and information technology service provider. It has qualifications for construction projects in communication, electricity, CECEP Solar Energy, and extensive experience in project delivery. It also has software development capabilities for information technology products. With over a decade of operation, Semesta has built a strong and extensive brand influence in the industry. Its major clients include Indonesia's largest telecommunications operator Telkom Group, leading telecommunication tower operators, Indonesia's national power company, and Indonesia's largest oil and gas company Pertamina Group. This transaction will help expand the company's asset size, enhance its future profitability and core competitiveness, improve its overseas market layout, and promote the long-term stable development of the company. After this transaction is completed, the target company will be incorporated into the company's consolidated financial statements, which will help expand the company's quality asset size, enhance its future profitability and core competitiveness.