Jakarta - Bintang Bara BV sold around 71.650 million shares, or 0.890% of PT TBS Energi Utama Tbk (TOBA).

"The purpose of the divestment transaction is solely," said Director of Bintang Bara Ronald Posthumus through information disclosure on Thursday (9/15).

The selling price of the shares is around Rp878.78 per share. Thus, Bintang Bara received fresh funds of Rp629.64 billion.

With this sale, Bintang Bara now owns 733.350 million, or 9.110% of TOBA's shares, down from 805 million, or 10% of the shares.

Bintang Bara is an investment company headquartered in the Netherlands. Bintang Bara is owned by Baring Private Equity Asia.