JAKARTA – PT Abadi Agrosindo Persada (AAP) will purchase a fertiliser production facility of PT Nusa Palapa Gemilang Tbk (NPGF) for IDR 275 billion. The payment will be channelled in rounds to suppliers and creditors’ accounts.

In the information disclosure quoted Tuesday (24/1), Yudi Koswinarko, Corporate Secretary of Nusa Palapa Gemilang, revealed that the sold asset is its factory, as well as machine for fertiliser manufacture, which is erected over a tract of land of 24,513 m2 in Surabaya-Mojokerto Street, East Java. “The land and machine, along with vehicles, licensed brands, and distribution licenses are transferred to AAP,” he confirmed.

AAP is located in Gama Tower Building, South Jakarta. This buying party is not affiliated with NPGF. The transaction value is reportedly equal to 135.80% of NPGF’s equity as reported in June 2022 of IDR 202.50 billion.

The money for the payment will be disbursed gradually from AAP to NPGF. In the first round of payment, the money will be sent one week after the agreement is signed, amounting to 10% of the total transaction value. The remaining amount of IDR 247.5 billion will be transferred later and split into IDR 134.54 billion for NPGF’s creditors and IDR 30.17 billion for NPGF’s suppliers. (LK/ZH)