Jakarta - PT Semen Indonesia  Tbk (SMGR) bought as much as 83.52% or a total of 7.533 billion shares of PT Solusi Bangun Indonesia (SBI) owned by PT Semen Indonesia Building Industry (SIIB).

"The purchase price of the shares was Rp10.998 trillion, which was carried out on December 29, 2022," said SMGR Corporate Secretary Vita Mahreyni in an information disclosure on Monday (1/2).

He added that the company carried out the transaction to place SBI as a direct subsidiary of the company, parallel to other cement subsidiaries, such as PT Semen Padang, PT Semen Tonasa, and PT Semen Gresik.

The transaction made was a material transaction because the value of the share sale and purchase transaction was 27.47% of the company's total equity as of December 31, 2021. Based on the financial report as of June 30, 2022, the company's equity was recorded at Rp40.034 trillion.

SIIB is a subsidiary of the company with 99.99% ownership.