JAKARTA. PT Jasa Marga (Persero) Tbk (JSMR) has divested its shares in PT Jasamarga Transjawa Tol (JTT) to 3 new investors for deleveraging purposes.

The number of JTT's shares divested by JSMR is 6.2 billion or equal to 30.18% of total JTT's shares. These are transferred to PT Margautama Nusantara (MUN), PT Metro Pacific Tollways Indonesia Services (MPTIS), and Warrington Investment Pte. Ltd. (WIPL).

The value of JTT's shares divestment by JSMR to these 3 new investors is IDR 12.82 trillion, according to the official statement by the management of JSMR.

In addition, JTT also issued 1.2 billion new shares, all of which will be acquired by MUN, MPTIS, and WIPL. The acquisition value reportedly reaches IDR 2.5 trillion.

After divesting and issuing new shares, JSMR's portion in JTT will be diluted to 65% from the initial 99%. Meanwhile, MUN will own 20.3% of the shares, followed by MPTIS of 10.46% and WIPL of 4.24%.

The management of JSMR said that the proceeds from divesting shares in JTT will be allocated to pay loan principal in the parent entity level, aiming to maintain gearing ratio of JSMR. Meanwhile, the proceeds of JTT's new shares issuance will be used to build new planned routes. (KR/ZH)