Aug 21, 2011

Bakrie Toll buys 85% Cibitung Tollways

PT Bakrie Toll Indonesia, a subsidiary of PT Bakrie Indo Infrastructure, has acquired 85% shareholding in PT Cimanggis Cibitung Tollways (CCTW) from Plus Expresway Berhad and PT Capitalinc Investment Tbk. 
PT Bakrie&Brothers is still holding 15% stake in CCTW, a license holder for toll operator Cimanggis-Cibitung, part of Jakarta Outer Ring Road 2. Bakrie Toll has acquired the stakes of 60% from Expresway Berhad and 15% from Capitalinc in August.
However, the completion of the stakes sale requires consent from Ministry of Public Works and shareholders of CCTW. 

Disclosure: No position at the stock mentioned above.

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