JAKARTA – PT Borneo Logistik Indonesia (BLI) sold 1.74 billion shares of PT Ancara Logistik Indonesia Tbk (ALII), a coal transportation company under the Bakrie Group, on December 29, 2024.

These shares represent 11.02% of ALII's total shares, equivalent to BLI's entire stake in the company. In other words, BLI no longer holds any shares in the company.

According to Aulia, Director and Corporate Secretary of ALII, in a disclosure today, the purpose of the transaction was for debt repayment.

However, the shares were not transferred very far, as on the same date (29/12), an acquisition of 1.74 billion shares was made by Borneo Logistics Services Pte Ltd (BLS), a Singapore-based company.

BLS indicated that the purpose of this acquisition was business development and investment.

The sale and purchase price per share was set at the same price level, which was at IDR 69, making the total value of BLI's divestment and BLS's acquisition of ALII shares reaching IDR 120.34 billion each. (ZH)