Announced
Completed
Financials
Sources
Tags
football club
Private
Completed
Entertainment
Acquisition
Friendly
Majority
Single Bidder
Indonesia
Domestic
Synopsis
Kaesang Pangarep, a son of Indonesian President Joko Widodo, Kevin Nugroho, commissioner of the club, and Erick Thohir, State Enterprises Minister completed the acquisition of a 90% stake in PT Persis Solo Saestu, a football team in Indonesia. Kaesang acquired 40% stake, Kevin Nugroho 30%, Erick Thohir 20%. Financial terms were not disclosed. Mr. Kaesang wants to get Persis into the first league of Indonesia’s national football championship, also citing a possibility of an IPO at a later stage.
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