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INDY to Sell Subsidiary to Barito for IDR 26 Billion

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Algo Research Team


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Key Summary:


  • INDY agreed to divest its forestry business
  • Buyer is Barito Pacific Lumber (BPL)
  • Insignificant contribution to earnings

Indika Energy (INDY) has recently announced an agreement to sell a subsidiary, Trisetia Citagraha (TCG), to Barito Pacific Lumber (BPL) for a total consideration of IDR 26.7 billion.


Who is TCG? Based on the latest financial statement, the company engages in forestry business with a total area of 24,287 ha located in East Kalimantan.


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