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waskita-karya-will-divest-its-shares-in-two-toll-road-companies

JAKARTA. PT Waskita Karya (Persero) Tbk, the parent compant of PT Waskita Toll Road, will soon complete the divestment of its shares in two toll road companies to Road King Infrastructure Ltd. worth Rp. 2.37 trillion. The two toll road companies are PT Jasamarga Solo Ngawi (JSN) and PT Jasamarga Ngawi Kertosono Kediri (JNKK). PT....

indonesias-bca-buys-rabobank-indonesia-for-us-28-35m

Indonesia’s largest private bank, ┬áPT Bank Central Asia Tbk (IDX:BBCA) and its subsidiary, PT BCA Finance bought all shares of PT Bank Rabobank International Indonesia of Rp. 397 billion (US$28.35 million). The transaction made Rabobank Indonesia a subsidiary of BCA, the company said on an official statement on Wednesday (12/11). The purchase of Rabobank Indonesia....

garuda-to-seek-us900-million-funding-for-debt-financing

JAKARTA. PT Garuda Indonesia (Persero) Tbk (GIAA) is planning to seek a funding of US$ 900 million for debt refinancing. According to an Indonesia Stock Exchange (IDX) filing published on Monday (16/12), as of December 31, 2018 the state-owned airline is US$ 1.6 billion in debt, due to mature within a year. In addition, there is also....

gojek-closes-in-on-deal-to-buy-5-of-blue-bird

Gojek, the Indonesian all-purpose super app provider, is nearing an agreement to buy 5 percent of top local taxi operator PT Blue Bird, according to people familiar with the matter. Gojek would pay about US$30 million, the people said, asking not to be named discussing a private matter. That implies a price of more than 20 percent above....

asia-cinema-purchases-stake-in-cgi-holdings

Asia Cinema Group Ltd has purchased a 28.57% stake in CGI Holdings Ltd, which owns a 51% stake in PT Graha Layar Prima Tbk (BLTZ) on December 20, 2019. With the purchase, CJ CGV Co Ltd’s ownership in CGI Holdings has been reduced from 100% to 71.43%. In the company’s stock exchange filing, BLTZ President Director Kim....

garudafood-and-hormel-foods-asia-pacific-pte-ltd-establish-a-jv-company

On December 20, PT Garudafood Putra Putri Jaya Tbk (FOOD) has signed a joint venture agreement with Hormel Foods Asia Pacific Pte. Ltd, a subsidiary of Hormel Foods Corporation. For information, Hormel Foods Corporation is a food company based in the United States that has several well-known brands such as Skippy peanut butter. A joint....

patrick-walujo-jerry-ng-backed-entities-close-acquisition-of-bank-artos

Hong Kong-based investment firm Wealth Track Technology (WTT) and IT service provider Metamorfosis Ekosistem Indonesia (MEI) have completed the acquisition of 51 per cent stake in Bandung-based small lender Bank Artos for a total 242 billion rupiah ($17 million). In a filing to the Indonesia Stock Exchange (IDX) last week, WTT, affiliated to the founder....

lippo-malls-indonesia-retail-trust-to-divest-pejaten-village-and-binjai-supermall

THE manager of Lippo Malls Indonesia Retail Trust (LMIRT) has inked conditional agreements to divest two properties, Pejaten Village and Binjai Supermall, for 1,280.7 billion rupiah (S$124.3 million).  The buyer is NWP Retail, a joint venture between Warburg Pincus and City Retail Developments, LMIRT announced in a Monday bourse filing after trading hours.  The sale....

investree-acquires-stake-in-mbiz

JAKARTA – Peer-to-peer (P2P) lending startup Investree has acquired a significant stake in Lippo Group-backed business-to-business (B2B) procurement startup Mbiz. As reported by DailySocial, Investree co-founder Adrian Gunadi will sit as a board server at Mbiz following the acquisition. No financial details regarding the deal were disclosed. According to Mr Gunadi, the acquisition will enable Investree....

nwp-retail-to-buy-five-indonesian-malls

Indonesian retail shopping mall platform NWP Retail is set to acquire five shopping malls, two owned by local subsidiaries of Singapore-listed Lippo Malls Indonesia Retail Trust.  The two Lippo Malls will be purchased for a total price of IDR1.30 trillion (US$92 million), while the other three mall purchases total approximately IDR440 billion (US$31.5 million). The....