JAKARTA. PT Lippo Karawaci Tbk (LPKR) has reportedly signed a Conditional Share Sale Agreement with Sight Investment Company Pte. Ltd., for 10.4% of PT Siloam International Hospitals Tbk (SILO).

With said agreement, LPKR, through one of its subsidiaries, PT Megaratama Karya Persada (MKP), will sell its portion in SILO to Sight Investment. The number of SILO’s shares divested by MKP and transferred to Sight Investment is 1.35 billion.

“The total value of transaction clocks up to IDR 3.85 trilion,” said Ratih Safitri, Corporate Secretary of LPKR, in the official statement.

Said transaction will be concluded after MKP and Sight Investment meet each requirement stated in the sale agreement. The target of transaction completion will also be announced by both parties.

Safitri then confirmed that MKP and Sight Investment do not share management and shareholder, which makes SILO’s share divestment is not an affiliate transaction.

According to IDNFinancials data, LPKR controls 100% of MKP as of March 31, 2024. Meanwhile, MKP’s portion in SILO was reported at 49.57% before sold to Sight Investment, which will shrink to 39.17% after the transaction was completed.

MKP and SILO are owned by the same parent entity, PT Inti Anugerah Pratama (IAP), a holding company of Lippo Group directly owned by James Riady. (KR/ZH)