“PT Cimanggis Cibitung Tollways (“CCT”) operates as a toll road developer established on December 22, 2008. CCT obtained concession rights for the Cimanggis-Cibitung segment with a concession period of 45 years. Waskita Toll Road acquired 80.00% shares of CCT of PT Bakrie & Brothers Tbk in July 2015. Based on the agreement, PT Bakrie & Brothers Tbk has a buyback option for a maximum of 35.00% shares of Waskita Toll Road on CCT.
Currently, Company owns 90.00% of CCT shares, while the rest is owned by PT Bakrie & Brothers Tbk and PT Bakrie Toll Indonesia, each at 5.00% of the shares.”