JAKARTA. PT Hero Supermarket Tbk (HERO) has divested one of its assets, which takes form in the land and building where Giant Extra BSD used to stand, for a total of IDR 355 bilion.

Said assets were sold to PT Pasifik Internusa, an electricity tools and computer accessories provider. HERO stated that the buyer has no affiliations with the company.

HERO and Pasifik Internusa had signed the binding sale and purchase agreement regarding this transaction back in February 2023. Then, last week, both parties also signed the sale and purchase deed.

The asset divestment is intended to reduce the leverage and enhance HERO’s own financial position. “The deleveraging may also cut off future interest payment, as well as securing gains from property sales,” the management of HERO further explained in the official statement.

According to the data received by IDNFinancials, the land and building divested by HERO consist of 23,218 square metres of building. The divested object also includes tools and other assets inside the building. (KR/ZH)