[SMM Flash News] Astrindo Plans Rp 1.79 Trillion Sale of Coal Mining Unit Stake

Published: Jun 29, 2026 01:01 (GMT+8)

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Indonesia's Astrindo Nusantara Infrastruktur (BIPI) said it plans to divest 4,995 shares, representing a 99.9% stake in coal mining subsidiary Sintesa Bara Gemilang (SBG), to non-affiliated party Indo Panca Borneo (IPB) in a deal valued at Rp 1.79 trillion ($100 million), as part of efforts to optimize its business portfolio, strengthen its capital structure and reduce financial risks; BIPI and IPB signed a conditional share sale and purchase agreement on May 21, with completion targeted by year-end, and the divestment will be discussed at an Extraordinary General Meeting of Shareholders on June 30, with BIPI management telling the Indonesia Stock Exchange on Monday it believes the transaction will positively impact the company's financial condition and support future business development.

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