Jakarta - PT Modernland Realty Tbk (MDLN)'s business entity, PT Mitra Sindo Makmur (MSM), has sold 1.277 million shares or represents 33% ownership in PT Astra Modern Land (AML).

The company signed the sale deed and purchase on December 27, 2021. The buyers of the shares were PT Astra Land Indonesia (ALI), PT Menara Astra (MA), and Hongkong Land (Unicode) Investments Limited (HKL).

"The total transaction value of the sale of AML shares is Rp1 trillion," said the company in information disclosure on Wednesday (29/12).

According to the statement, the transaction value of the sale of AML shares, ALI, amounting to Rp999.998 billion, MA and HKL, each at around Rp783,024.

The transaction value of the sale of AML shares is 26.28% of the company's equity, so the transaction of selling AML shares is a material transaction. For June 2021, AML's total equity is Rp3.845 trillion, with assets of Rp4.336 trillion.

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