PT Intiland Development Tbk (DILD) through PT Jateng Industri Intiland bought PT Segajung for Rp354.175 billion.

"The purpose of the transaction is a long-term investment," said Director of Intiland, Archied Noto Pradono, in the IDX disclosure on Monday (24/5).

He explained, the source of funds used to finance the transaction came from the company's cash and loans to old shareholders.

With this transaction, the industrial estate business license will be active again, so it is expected to positively impact the company's business development because it will strengthen the company's industrial estate portfolio.

The transaction is not an affiliated transaction, material, and conflict of interest.