JAKARTA (TheInsiderStories) - PT Provident Agro Tbk (IDX: PALM) said it will sell at least four plantations unit with estimated price of Rp 2.7 trillion (US$206.02 million).
According to Director of PALM Tri Boewono, the four assets to be sold are PT Global Kalimantan Makmur, PT Semai Lestari, PT Nusaraya Permai and PT Sawit Subur Saban. These assets are sold to local firm PT Gelangang Maju Bersama and PT Mandhala Cipta Purnama, a company based in West Kalimantan.
Based on the company’s prospectus, Provident Agro will sell 2.2 million shares of Global Kalimantan, about 200,000 shares of Nusaraya Permai, around 100,000 shares of Semai Lestari, and 40,000 shares of Sawit Subur Saban. (*)