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  3. pt x is negotiating with pt y to acquire 100% shar

PT X is negotiating with PT Y to acquire 100% share capital of PT Z....

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Accounting

PT X is negotiating with PT Y to acquire 100% share capital of PT Z. PT Z is currently owned fully by PT Y and meets the business definition as defined in PSAK 22. Sales shares must obtain approval from the shareholders of PT X and the government. Because of approval it takes time, before when the share sale is completed, PT X and PT Y make agreement that:  Both parties are committed to completing legally subject to consent required;  Determine the purchase price;  Determined that the following decisions and actions can be taken by PT Y only with PT X approval until the sale of shares, through: o Changes in the management of PT Z; o Dividend payment; and, o New project contracts that exceed IDR 200 billion. Does PT X control PT Z as a result of this agreement?

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