Both parties, in their statements on the exercise, did not disclose how much the deal was valued at. However, according to previous reports, PLUS Expressways had previously received a US$500mil (RM2.1bil) offer for its stake in LMS.
PETALING JAYA: Marking its second major disposal in a week, Khazanah Nasional Bhd has announced its exit from the Indonesian highway business.
PLUS Expressways International Bhd, which is a subsidiary of the UEM Group and ultimately wholly owned by Khazanah, has sold its entire 55% majority stake in PT Lintas Marga Sedaya (LMS) to the Canada Pension Plan Investment Board (CPPIB) and its partner PT Baskhara Utama Sedaya (BUS).
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