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Rajawali Group sells stake in Nusantara Infrastructure
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Trucks and heavy equipment operate at a construction site. (Tempo/-)
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T Rajawali Corpora through PT Hijau Makmur Sejahtera has sold its 21 percent stake in PT Nusantara Infrastructure (META), equivalent to 3.2 billion shares, to PT Matahari Kapital Indonesia (MKI).
The share sale was held last Friday, at Rp 270 per share or equivalent to Rp 864 billion (US$6.4 million) in total. After the transaction, Rajawali still owns 22 percent stake in META, through Eagle Infrastructure.
Satrio Tjai, the Rajawali Group managing director said the decision to sell the shares was based on a consideration that the group had always been a minority shareholder in META. The group would always look for future opportunities to invest again in the infrastructure sector.
“We will keep developing the business potential that is in line with the Rajawali Group’s business criteria to provide added value for the national economy and for other stakeholders,” he said in Jakarta on Tuesday.
The share purchase was executed just as the government works hard to expedite development in the infrastructure sector to support national economic growth and provide equality of public access to infrastructure. (ags)
