JAKARTA - PT Indika Indonesia Resources (IIR), a subsidiary of PT Indika Energy Tbk (INDY), has divested 60% of PT Mitra Energi Agung (MEA) to PT Niaga Gilang Persada (NGP). The signing of share sale and purchase agreement took place last week (3/10).

Adi Pramono, Corporate Secretary of INDY, mentioned that the number of shares of IIR sold to NGP reaches 3,060 shares, worth IDR 15 billion. “After the transaction was concluded, MEA would no longer be listed as a subsidiary, and its financial statement will not be consolidated into financial report of the company,” he said in the information disclosure quoted Tuesday (8/10).

Divestment of IIR in MEA is a part of INDY’s business diversification strategy, and its vision to focus more on sustainable business.

It is known that the conditional share sale and purchase binding agreement of the divestment was signed in March 2024. The worth of total 100% ownership over MEA reaches IDR 25 billion. (LK/ZH)