Property developer PT Agung Podomoro Land Tbk (APLN) has agreed to acquire 55% stake in PT Sumber Air Mas Pratama at Kerawang, West Java.
Vice President Ariesman Widjaja at Agung Podomoro said the takeover agreement was signed on April 12 2012.
Sumber Air Mas is a company that owns and manages 350 hectares of land at Kerawang. "The investment does not surpass 20% of our equity," he said in an official statement filed to Indonesia Stock Exchange.
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