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TOBA – Signing SPA to acquire 100% of SembEnviro TBS Energi Utama Tbk (TOBA) through its subsidiary, SBT Investment 2 Pte. Ltd. (SBT Investment) announced the signing of a Share Purchase Agreement (SPA) with Sembcorp Industries Ltd. (Sembcorp) to acquire 100% of the shares of Sembcorp Environment Pte. Ltd. (SembEnviro). This strategic transaction continues TBS's expansion efforts, following the acquisitions of Asia Medical Enviro Services Pte Ltd in Singapore and ARAH Environmental group in Indonesia in 2023, which strengthen its position in the regional waste management and environmental solutions sector. TBS has an ongoing commitment to transitioning to a green and sustainable business in line with its TBS2030 carbon neutrality target. Pandu Sjahrir, Co-CEO of TBS stated that TOBA are very excited to acquire the business of an organization renowned for its operational excellence. SembEnviro's track record in waste management aligns with their sustainability goals. TOBA are fully committed to ensuring that SembEnviro's high standards of service are maintained. (Source : Emiten News