New Divestment Of IDR 105.9 Billion From IDR 1.4 Trillion, PTPP Is Still Looking For Prospective Buyers

Share illustration (Photo: dock. Antara)

JAKARTA - PT PP (Persero) Tbk (PTPP) is still conducting a review process and searching for potential buyers for its share divestment. The company plans to divest its shares of IDR 1.4 trillion.

Corporate Secretary of Bakhtiyar Efendi also confirmed that the divestment process of PTPP shares consisting of shares or assets in affiliated companies, subsidiaries and grandchildren of the company is still in this stage.

"Until now, the divestment that has been successful is IDR 105.9 billion," he said, citing information disclosure, Tuesday, November 14.

Regarding the news of negotiations with TPIA and KRAS regarding the release of a subsidiary of PT PP Krakatau Tirta Industri (KTI), he was still unable to provide certainty. Where, the divestment process is still in the selection and negotiation stage with potential buyers.

"The process is limited with potential buyers," he said.

PPKT as information is a company whose 25 companies are owned by KTI and PTPP through PP Infrastruktur holding 75 percent of shares. Meanwhile, KTI is a subsidiary of KRAS, which is the majority shareholder of 51 percent and Chandra Asri holds 49 percent of KTI shares.

He will also disclose information after the divestment process has been successfully carried out by the Company. Until now, there has been no other information that is material besides that the company has submitted to the stock exchange.

"The company will carry out information disclosure in accordance with applicable laws and regulations," he concluded.