Hankyu Hanshin Holdings, Inc. (TSE:9042) agreed to acquire an unknown stake in PT CPM Assets Indonesia from PT Agung Podomoro Land Tbk (IDX:APLN) on September 12, 2022. Pursuant to the terms, Hankyu Hanshin acquires new as well as existing shares in PT CPM Assets Indonesia and will hold a total of 71% stake. Hankyu Hanshin will pay a consideration of $197.2 million.

CPM Assets Indonesia is then expected to buy the remaining 85% stake in Central Park Mall from the developer. The deal is expected to close on September 22, 2022.