Idemitsu Kosan Co Ltd, Japan, sold off 30% of its portion in PT Mitrabara Adiperdana Tbk (MBAP) of IDR 430.77 billion in a transaction taking place yesterday (30/3). At the same time, PT Wahana Batubara Indoensia (WBI) entered as the new shareholder, claiming the said 30% of MBAP.

Chandra Lautan, Corporate Secretary of Mitrabara Adiperdana, mentioned that the said portion transfer was decided by Idemitsu in relation to its focus on the new and renewable energy (NRE) business. “In spite of its decision to continue its coal business in Indonesia, Idemitsu divested its shares in the company,” he explained in the information disclosure quoted Firday (1/4).

Idemitsu’s shares involved in the said transaction amounted to 368,181,600 units, sold for IDR 1,170 each.

WBI then became the shareholder of 30% of MBAP, acquiring the same 368,181,600 shares for IDR 1,170 each, totalling IDR 430.77 billion.

After this transaction, MBAP’s shareholders now consist of WBI of 30%, PT Wahana Sentosa (WS) of 60%, and public investors of 10% of the total 1,227,271,952 shares. Prior to this, Idemitsu Kosan claimed the 30%, and the rest was unchanged. 

Source: https://www.idnfinancials.com/news/42693/idemitsu-kosan-sold-shares-mitrabara-adiperdana