Conglomerate Mochtar Riady's Multipolar Technology Together With Mitsui Sell All Shares Of PT GTN Data Center Manager To Edgeconnex

Illustration. (Photo: Doc. Antara)

JAKARTA - PT Multipolar Technology Tbk (MLPT) together with Mitsui & Co Ltd sold all shares of PT Graha Teknologi Nusantara (GTN) data center manager to Edgeconnex Europe BV

Multipolar Technology, Mitsui & Co Ltd and Edgeconnex have signed a conditional sale and purchase agreement in relation to 100 percent of share in GTN on February 14, 2022.

"The implementation of the planned share sale still depends on the parties meeting the preliminary requirements as stipulated by the PJBB," MLPT management wrote in an official statement, quoted Wednesday, February 16.

Later, Edgeconnex will acquire 281.53 million shares of GTN which represents 65 percent of MLPT's, and buy 151.59 million of GTN's shares which represent 35 percent of Mitsui & Co Ltd's.

In addition to shares, MLPT also sold a plot of land with an area of 40,000 square meters located in Cikarang, Bekasi, West Java to Edgeconnex. MLPT management has not mentioned the details of the transaction value, but this transaction is material, which according to the Financial Services Authority (OJK) regulations, the value is 20 percent or more of the company's equity.

"This incident, information and material facts do not have a negative impact on operational activities, law, financial condition or the continuity of the company's business," the management wrote.