JAKARTA. PT Waskita Toll Road (WTR), a subsidiary of PT Waskita Karya (Persero) Tbk (WSKT), has signed a Conditional Sales Purchase Agreement with PT Sarana Multi Infrastruktur (SMI) regarding the divestment of 55% of its shares in PT Cimanggis Cibitung Tollways (CCT). The targeted transaction value reaches IDR 1.7 trillion.
The said amount comprises IDR 339 billion for WTR’s 55% divestment and another IDR 1.4 trillion for the transfer of 55% of shareholder loan by SMI.
Destiawan Soewardjono, President Director of Waskita Karya, stated that the divestment is the company’s commitment to improving its financial health, which was realised in early 2022. From this transaction, WSKT is expected to receive a gross profit of IDR 229 billion and debt deconsolidation of approximately IDR 4.1 trillion.
Taufik Hendra Kusuma, Financial and Risk Management Director of Waskita, planned for the company and SMI to sign the actual Sales and Purchase Agreement by the first half of 2022. “After the transaction is finalised, the ownership structure of CCT comprises SMI of 55%, WTR 35%, and other shareholders 10%,” he specified in the official release on Thursday (13/1). (AM/ZH)