VINANSIA.COM - PT Lippo Karawaci Tbk (LPKR) has sold 18.57% of its shares in PT Siloam Hospitals Tbk (SILO) for approximately Rp 6.9 trillion, reducing its ownership to 29.09%. This strategic decision aims to decrease debt and strengthen LPKR’s focus on its core real estate business.

President Director of LPKR Marlo Budiman highlighted that the funds will be allocated to debt repayment and further investments. Despite reducing its ownership, LPKR remains committed to supporting SILO's growth as a leading healthcare provider in Indonesia.

Since opening its first hospital in Lippo Village in 1992, LPKR has developed SILO into a prominent healthcare network with 41 hospitals and over 70 clinics across the nation. The decision to reduce its ownership in SILO is part of LPKR's broader strategy to focus on integrated operational areas, including land banking, self-contained urban development, residential projects, and lifestyle malls.

Following the transaction, LPKR will receive approximately Rp 6.9 trillion in cash, post-tax. About Rp 3.9 trillion will be allocated to debt repayment, including dollar bonds and other loans, while the remainder will be directed toward further investments and corporate needs. The company anticipates a decrease in net debt to Rp 4.3 trillion, expressing cautious optimism about the future while believing this move will enhance financial flexibility and strengthen its position in the real estate sector.

Budiman emphasized that despite reducing its ownership in SILO, LPKR remains committed to supporting SILO's growth as a strategic shareholder.