Jakarta - PT Semen Indonesia Tbk has officially become a shareholder of PT Semen Baturaja Tbk (SMBR) with 75.51% ownership.

Following the Deed 15/2022, the State transferred the rights to all of its series B shares to SMBR with a total of 7.49 billion series B shares or 75.51% of all issued and fully paid shares in SMBR.

"it carried out the transaction to support the  2020-2024 national medium-term development planning (RPJMN) in order to strengthen economic resilience for quality growth and strengthen infrastructure to support economic development and basic services," said SMGR President Director Donny Arsal, as quoted in information disclosure on Wednesday (12/21).

The company expects the consolidation of SMBR into the Semen Indonesia Group to help realize the RPJMN agenda by fulfilling national and global cement demand in line with the post-pandemic economic recovery.

The company signed the deed of agreement for the transfer