JAKARTA - Asia Cinema Group Ltd has purchased a 28.57% stake in CGI Holdings Ltd, which owns a 51% stake in PT Graha Layar Prima Tbk (BLTZ) on December 20, 2019. With the purchase, CJ CGV Co Ltd's ownership in CGI Holdings has been reduced from 100% to 71.43%.
In the company's stock exchange filing, BLTZ President Director Kim Kyoung-tae said that the purchase of CGI Holdings' shares has resulted in the company's indirect ownership BLTZ being reduced from 51% to 36.429%. "However, CJ CGV Co Ltd remains BLTZ's indirect controller," he said.
Following the transaction, BLTZ's shareholder composition consists of Coree Capital Ltd (40%), CGI Holdings Ltd (51%), and public investors (9%), whereas CGI Holdings' shareholders consist of CJ CGV Co Ltd (36.429%) and Asia Cinema Group Ltd (28.57%). (LK/MS)