JAKARTA. PT Petrosea Tbk (PTRO) sold its stake in 2 subsidiaries to affiliated companies for Rp 97.35 billion in order to focus on its mining business.
Meinar Kusumastuti, Director of PTRO, said that the two subsidiaries released were PT Pusat Sarana Baruna (PSB) for Rp 92.36 billion and PT POSB Reksabumi Indonesia (PRI) for Rp 4.99 billion. PTRO sold 99.9% of its shares in PSB and PRI.
Kusumastuti explained the two subsidiaries were sold to PT Interport Mandiri Utama (IMU), a PTRO-affiliated company, in order to get the best price. "It's more difficult to obtain [best price] if the company is selling to other parties who are not affiliated with us," he explained through information disclosure.
PSB is a company that runs warehousing, storage, and transportation support businesses. Meanwhile, PRI is a company engaged in the management of water, waste, garbage, to warehousing.
For information, PT Indika Energy Tbk (INDY) owns 69.8% of PTRO shares. IMU is owned also owned by INDY, through its subsidiary, PT Indika Energy Infrastructure. (KR/AR)