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Danantara to acquire Sritex assets for revival

PRIVATEAug 18, 2026•about 3 hours ago

Acquiring Company

Danantara

Acquired Company

PT Sri Rejeki Isman (Sritex)

IndonesiaSemarangFinancial ServicesManufacturing

Description

Danantara plans to acquire the assets of bankrupt textile giant Sritex in hopes of reviving the company and settling outstanding severance claims for former employees. This acquisition follows the bankruptcy declaration of Sritex in October 2024, which left many workers without their due payments. Former employees are optimistic that Danantara's involvement will expedite the liquidation process and provide them with their rightful benefits.

Company Information

Company

Danantara

Location

Indonesia

About

Danantara is Indonesia’s sovereign wealth fund, aimed at investing in local and sustainable developments. It plays a critical role in supporting Indonesia's growth by facilitating partnerships with key players in various sectors. The fund seeks to address foreign control concerns while promoting economic stability.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed

Frequently asked

Who acquired PT Sri Rejeki Isman (Sritex)?

PT Sri Rejeki Isman (Sritex) was acquired by Danantara, based in Indonesia. The deal was reported on August 18, 2026. Danantara is Indonesia’s sovereign wealth fund, aimed at investing in local and sustainable developments. Danantara is privately held and operates in Financial Services.

When did Danantara acquire PT Sri Rejeki Isman (Sritex)?

Danantara's acquisition of PT Sri Rejeki Isman (Sritex) was reported on August 18, 2026. Danantara plans to acquire the assets of bankrupt textile giant Sritex in hopes of reviving the company and settling outstanding severance claims for former employees. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.

What does PT Sri Rejeki Isman (Sritex) do?

PT Sri Rejeki Isman, known as Sritex, is a textile manufacturing company that faced bankruptcy in October 2024. At its peak, the company employed over 10,000 workers and was a significant player in the Indonesian textile sector. It is privately held, operating in Manufacturing, and is based in Semarang.

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