PT Waskita Karya through its subsidiary PT Waskita Toll Road has completed the divestment of 35 percent shares in PT Cimanggis Cibitung Tollways to PT Bakrie Toll Indonesia. The transaction is part of a restructuring strategy to focus on core construction business. PT Bakrie & Brothers Tbk now owns 100 percent of the toll road shares.
On Friday, November 28, 2025, the signing of the Share Purchase Agreement (SPA) took place in Jakarta between PT Bakrie Toll Indonesia (BTI), PT Sarana Multi Infrastruktur (Persero) (SMI), and PT Waskita Toll Road (WTR). Waskita Karya's President Director, Muhammad Hanugroho, witnessed the event alongside Director of Business Strategic, Portfolio & Human Capital, Rudi Purnomo.
Hanugroho stated, “We are grateful that the series of corporate actions, including the share divestment process of CCT, has gone smoothly and is now complete. This step demonstrates the company's commitment to creditors and fulfills the Master Restructuring Agreement (MRA) effective since October 2024.” The divestment includes the release of 35 percent shares of CCT owned by WTR, with a total transaction value of Rp3.28 trillion. Previously, CCT's share ownership consisted of 55 percent by SMI, 10 percent by Bakrie Toll Indonesia, and 35 percent by WTR.
Proceeds from the divestment will be used to settle creditor obligations, increase liquidity, and support operations. Waskita Karya plans to focus on core businesses such as building construction, water infrastructure, roads, and bridges. The company also divested 25 percent shares of PT Trans Jabar Tol in 2024 to SMI. Over the last 10 years, Waskita through WTR has invested in 18 toll roads, with nine divested since 2019, contributing more than 1,000 km out of 3,000 km of operating tolls in Indonesia.
From the buyer's perspective, BNBR's President Director Anindya N. Bakrie explained, “This transaction is carried out in connection with a strategic opportunity for the Company to acquire all ownership shares of CCT.” BNBR previously held 10 percent shares, thus acquiring an additional 90 percent (55 percent from SMI and 35 percent from WTR) worth Rp1 trillion through 72 million shares. The acquisition strengthens BNBR's position in the national infrastructure sector and supports long-term business synergies.