JAKARTA. PT Anabatic Technologies Tbk (ATIC) sold all of its portion in PT Equine Global (EG), an indirect subsidiary owned through PT Computrade Technology International (CTI), to IBM Global Services Pte. Ltd. (IBM).

CTI’s shares in EG divested to IBM are equal to 73%. The transaction is carried out using the price set to USD 13.02 million or IDR 195.66 billion, using currency exchange rate of IDR 15,026 per USD.

The management of ATIC said that EG’s divestment is categorised as material transaction, as the value exceeds 50% of total equity of ATIC. As of June 30, 2023, the total equity was recorded at IDR 204.52 billion.

In addition to the divestment by CTI, other shareholders also divest their portions in EG to IBM. Some of minority shareholders of EG that transfer their shares to IBM include Kusnadi (10%), Eko (7%), Hendra (5%), and Sutanto (5%).

“Other shareholders of EG, aside from CTI, will transfer their portions to IBM under the same terms and conditions,” said the management of ATIC in the information disclosure.

The management of ATIC said that CTI’s divestment in EG is intended to direct its business structure to focus on its core business. On top of that, the divestment is intended to gain capital in order to pay off CTI’s bank loans. (KR/ZH)