Sep 16, 2011

META considers water supplier takeover

Toll road operator PT Nusantara Infrastructure Tbk (META), a subsidiary of Rajawali Group, is scouting a mineral water supplier in October or November with consideration price of Rp500 billion.
Nusantara is considering to buy 70%-80% shareholding the target company which has operations in Jakarta, Tangerang, and Bekasi.
Managing Director Bernadus Djonoputro, as quoted by Investor Daily, said the company will finance the acquisition with internally generated cash flow and external financing.
Nusantara is eyeing water supply project dubbed Way Rilau worth US$38 million. "Project pre-qualification will be commenced in February 2012," he said.

Disclosure: No position at the stock mentioned above.

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