Astratel Nusantara, subsidiary of a diversified conglomerate Astra International, is interested in acquiring some shares of Lintas Marga Sedaya, which operates one section of the Cikopo-Palimanan Toll Road in West Java, famously known as the Cipali Toll Road. (Antara Photo/Dedhez Anggara)

Astra's Subsidiary Seeks to Acquire Stake in Cipali Toll Road

BY :RAUSYAN FIKRI

JANUARY 17, 2017

Jakarta. Astratel Nusantara, subsidiary of a diversified conglomerate Astra International, is interested in acquiring some shares of Lintas Marga Sedaya, which operates one section of the Cikopo-Palimanan Toll Road in West Java, famously known as the Cipali Toll Road.

Astratel director Wiwiek D. Santoso said on Monday (16/01) that the company is interested in acquiring the shares from Bhaskara Utama Sedaya, a subsidiary of property developer Surya Internusa.

Baskara owns 27-percent of shares in Lintas Marga Sedaya, which operates a 116-kilometer section of the road that connects the Jakarta-Cikampek Toll Road to Palimanan-Kanci Toll Road.

Wiwiek said her company has heard that Surya Internusa plans to sell the shares and Astratel is interested in participating in bidding for the stake.

"We still don't know whether they plan to sell the entire holding or just part of it," she said.

Despite that, Astratel is ready to invite strategic partners to buy the shares of Surya Internusa together, as it expects the toll road will offer good returns in the future as it connects two strategic toll road sections.

The president director of Surya Internusa, Johannes Suriadjaja, said he is also upbeat that the Cipali Toll Road is going to be profitable, especially as the traffic on it will steadily grow.

"But if there are some good offers now, why not [sell the stake]?" he said.

Another Indonesian investor in the toll road development, which holds 18 percent of it, is Saratoga Investama Sedaya, a listed investment holding company controlled by tycoon Edwin Soeryadjaya.

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