Nusantara Infrastructure Sells Shares of Tirta Kencana Cahaya Mandiri to Tirta Bangun Nusantara

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- One of Salim Group's publicly listed companies, PT Nusantara Infrastructure Tbk (META), has sold its shares of PT Tirta Kencana Cahaya Mandiri to PT Tirta Bangun Nusantara (TBN) through its subsidiary PT Potum Mundi Infranusantara (Potum).

Tirta Kencana Cahaya Mandiri holds the concession for operating the Drinking Water Supply System (SPAM) at the Cikokol Water Treatment Plant (IPA) in Tangerang, with a capacity of 1,575 liters per second, operating since June 11th, 2004.

In the share purchase agreement, Potum sold 26,957,000 shares, or 99.998%. The transaction value payable by TBN to Potum is a maximum of Rp 55 billion, subject to the terms and conditions of the Purchase and Sale Agreement, said Dahlia Evawani, Corporate Secretary of PT Nusantara Infrastructure.

Evawani added that the implementation of the transaction plan has the potential to reduce the company's assets and equity. However, she reassured that the company believes that the implementation of the transaction will not have a negative impact on its business activities and growth, as the company currently has adequate working capital and cash flow to carry out its operational activities.

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