Nov 26, 2010

Rajawali confirms META take over deal

Rajawali Group has finally confirmed that the company has acquired 23.6% holdings in PT Nusantara Infrastructure Tbk (META), toll road operator, at Rp448 billion or Rp140 per share.
Darjoto Setiawan, Managing Director Rajawali Group, the company has bought Nusantara Infrastructure from Infrastructure Growth Fund (IGF).
"Yes, 23.6% stake or 3.2 billion from IGF," he said.
Credit Suise Securities bought 6.5 billion stakes or 48% of its total shares in Nusantara at Rp140 per share.
Infrastructure Growth Fund controls 52.25% stake in Nusantara and Bosowa Trading holds 17.48% stake.
Previously Rajawali competed with Astra Group to buy Nusantara Infrastructure.
Ramdani Basri, President Director of Nusantara Infrastructure, hasn't obtained information from shareholders. "We knew about shares crossing in the market, but we haven't obtained any information."

Disclosure: No position at the stock mentioned above. 
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