Aug 1, 2011

Astra Group to buy toll road operator

PT Astra International Tbk (ASII), Indonesia's diversified business holding company, through a wholly owned subsidiary PT Astratel Nusantara, will acquire 95% shareholding in a toll road operator.
However, President Director Astra International Prijono Sugiarto declined to name the target company. "After we complete the acquisition, we will announce the name," he said as quoted by Investor Daily today.
In 2005, Astratel in collaboration with Citigroup Financial Product Inc acquired 53.9% stake in PT Marga Mandala Sakti worth Rp255.3 billion.
After the completion of the acquisition, Astratel controlled 34% shareholding in Marga Mandala Sakti with toll road concession of 72.45 km Tangerang-Merak.
Astratel also manages participation in PT Marga Trans Nusa, owner of 11.2 km toll road Kunciran-Serpong. Astratel in association with PT Jasa Marga Tbk in Marga Trans Nusa.

Disclosure: No position at the stock mentioned above.

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