Battery producer PT Nipress Tbk (NIPS) and Johnson Controls Battery Investment LLC (JCBI) have on September 28, 2018 signed a sale and purchase agreement (SPA) for the divestment of 24,883 shares in PT Nipress Energi Otomotif (NEO), or 24.5% of its total issued and paid-up share capital at the price of Rp138.62 billion. NEO is also set to issue 14,856 new shares to be absorbed by JCBI at the price of Rp77.24 billion.

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