Jul 26, 2010

Citra Marga disposes 11% Citra Metro

Toll road operator PT Citra Marga Nusaphala Persada Tbk (CMNP) announced that it has disposed 11% stakes in PT Citra Metro Manila Tollways Corporation.
In a public announcement to Indonesia Stock Exchange (IDX), Citra Marga has disposed 5.79 million shares or 11% in Citra Metro, a toll road operator in Manila, Phillipine.
"The stakes disposal was effective on July 20. Citra Marga sold 10% stakes in Citra Metro in October last year, shrinking its ownership to 11% from 21%."
By the end of 2009, Citra Metro was in accumulative net loss of Peso12.67 billion or Rp2.78 trillion.

Disclosure: No position at the stock mentioned above.

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