PT Eagle High Plantations Tbk sold all of its shares in PT Agrolestari Kencana Makmur (AKM) and PT Bumi Sawit Utama (BSU).

PT Adau Agro Kalbar and PT Adau Hijau Lestari purchased those shares.

"With the sale of shares in the business entity, the company's operational and financial activities will be more effective and efficient," said Corporate Secretary Satrija Budi Wibawa in the IDX disclosure on Tuesday (20/4).

According to him, the transaction strengthens cash flow and reduces bank debt obligations, which will positively impact the company's business continuity in a better direction.