Indonesia's Toba Bara to sell 61.79% of its unit to Singapore's Highland Strategic

Coal producer PT Toba Sejahtera has announced plans to divest 61.79 per cent of ownership in its publicly-listed subsidiary, PT Toba Bara Sejahtera Tbk (TOBA), to Singapore-based Highland Strategic Pte Ltd. The value of this transaction is estimated to reach Rp1.2 trillion ($90 million), based on Toba Bara’s share closing price on Monday’s trading at Rp1,000 per share.