Lippo Sells Its Subsidiary To Hong Kong, The Value Is Estimated At Rp.560.34 Billion

JAKARTA - The Lippo Group business unit, PT Multipolar Technology Tbk (MLPL) is in the process of selling its subsidiary, which is engaged in information management, PT Multifiling Mitra Indonesia Tbk (MFMI).

Multipolar will sell shares owned by PT Surya Cipta Investama (SCI) and PT Cahaya Investama (CI) to a company that has information management business activities headquartered in Hong Kong, namely Iron Mountain Hong Kong Limited.

Multipolar Corporate Secretary, Natalie Lie said, SCI and CI hold 700,425,400 shares representing 92.46 percent of all issued and fully paid capital in MFMI.

If referring to MFMI's share price which was in the position of IDR 810 per share at the close of trading today, the value disbursed by Iron Mountain Hong Kong Limited is IDR560.34 billion.

"In connection with the plan to sell shares, the sellers and buyers have signed a conditional share purchase agreement relating to the sale and purchase of shares in the company (PPJB) on 23 December 2020," he said, in a disclosure of information on the Indonesia Stock Exchange (IDX) website. ), Monday December 28th.

He revealed that the completion of the share acquisition plan still depends on the fulfillment of the preliminary requirements by the parties as regulated in the PPJB.

"The events, information and material facts mentioned above do not have a negative impact on the company's operational activities, law, financial condition, or business continuity," said Natalie.

For information, SCI and CI are companies whose shares are controlled by the company, either directly or indirectly. At the close of trading today, MFMI's share price was at IDR 810 per share, up 140 points or 20.9 percent.