Jakarta, 18 December 2019, PT Waskita Toll Road (“WTR”), a subsidiary of PT Waskita Karya Tbk (Persero), has agreed to divest 40% of the shares in the Solo – Ngawi Toll Road (PT Jasa Marga Solo Ngawi / “JSN”) and 40 % of shares in the Ngawi – Kertosono – Kediri Toll Road Section (PT Jasa Marga Ngawi Kertosono Kediri / “JNK”) to Investors from Hong Kong, namely Kings Key Limited (“KKL”). The agreement was marked by the signing of the Sales Purchase Agreement (“SPA”) between the two on today 18 December 2019.
KKL is a subsidiary of Road King Expressway International Holdings Limited (“RKE”), a Hong Kong-based company that has experience as a toll road investor for more than 20 years in China. The Hong Kong-based company agreed to take ownership of WTR’s shares in JSN and JNK by 40% each with an overall acquisition of up to Rp 2.5 trillion.
Mr. Herwidiakto (President Director of PT Waskita Toll Road), said that the implementation of this divestment, is a WTR business strategy to be able to support the completion of other PSN toll road sections and investment in new toll roads, and is expected to be a good momentum for the divestment plan of the toll roads the next toll road in the future.
Press Release : 001/WTR/PR-CORCOMM/XII/2019
For further information please contact :
PT Waskita Toll Road
Waskita Rajawali Tower, Lt.7