JAKARTA - PT Sariguna Primatirta Tbk (CLEO), a manufacturer of packaged drinks, is injecting PT Sentralsari Primasentosa (SPS) with IDR 180 billion in capital to add 50 branches in 2024. The transaction value is around 13.93% of the company's total equity of IDR 1.29 trillion as of June 2023.

Melisa Patricia, President Director of CLEO said that the company invested 80% of SPS share ownership via the issuance of 100 thousand new shares. "The 80% participation is the percentage of company ownership of the issued and fully paid-up capital of SPS after the transaction," she said in an information disclosure quoted on Wednesday (20/12).

The source of funding for this plan is a long-term term loan facility from PT Bank Negara Indonesia (Persero) Tbk (BBNI) worth IDR 200 billion on February 28, 2023. The facility period is 84 months from the time the agreement is signed with interest of 5.35% per year.

CLEO will become the sole controller of SPS after the transaction. "With SPS under CLEO's control, then, the distribution management of a number of products owned by the company, including promotion and marketing, will be effective and efficient," she said.

According to her, SPS's performance and financial reports will be consolidated with CLEO after the transaction. SPS will also find it easier to get access to funding for additional working capital and transportation fleet to expand the distribution network.

SPS has 10 large customers, including, PT Indomarco Prismatama, PT Sumber Alfaria Trijaya Tbk, PT Sumber Lancar Tirta, PT Tirta Erbena Perkasa, CV Attaya Nabawa Fams, Johan Nugroho, PT Mustika Bumi Sentosa, CV Candra Investindo Pratama, Hadrian Adisputra, and Much Naimul Firdaus. (LK/LM)