PT Agung Podomoro Land Tbk Established Business Partnership with Hankyu Hanshin Properties Corp.
October 18, 2022
Jakarta, October 18th, 2022. PT Agung Podomoro Land Tbk (“APLN” or “the Company”) – informed that it sold its 85% ownership in Central Park Mall (“CP Mall”), Jakarta to PT CPM Assets Indonesia. This transaction was conducted after PT CPM Assets Indonesia had been acquired by a Japanese company, namely Hankyu Hanshin Properties Corp. through its subsidiary, CPM Assets Japan LLC. The proceeds from the CP Mall divestment will be used by the Company to repay part of the outstanding loans, invest in PT CPM Assets Indonesia, and strengthen APLN's liquidity.
