Jakarta (ANTARA News/Asia Pulse) - Malaysia's Plus Expressway Berhad (KLSE:5052) has acquired a 55 per cent stake in the Cikampek-Palimanan toll road project from PT Lintas Marga Sedaya.
With the acquisition, Lintas Marga Sedaya has been reduced to a minority shareholder with a 45 per cent stake in the 116 kilometer toll road project valued at Rp5.9 trillion (US$655 million).
Lintas Marga president Sandiaga S. Uno said construction of the project could start earlier with the take over by Plus Expressway, the largest toll road investor in Malaysia.
Ground breaking is expected to take place in the second quarter of 2007, after financial closing in the first quarter.
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