Indika sells LPG transportation unit
Friday, December 11 2015 - 01:00 AM WIB
By Romel S. Gurky
IDX-listed energy firm PT Indika Energy Tbk announced on Thursday that it has sold its indirect subsidiary PT Satya Mitra Gas (SMG), which is engaged in LPG transportation and refilling, to two business people.
Indika said in a statement that its two subsidiaries PT Indika Energy Infrastructure and PT LPG Distribusi Indonesia had on December 7 signed a sale and purchase agreement to sell the entire shares in SMG to Mohammad Reza Tarmizi and Yuni Margiasari.
The company said that the two individuals are not affiliated with the company. Indika did not disclose the value of the transaction.
Editing by Reiner Simanjuntak