Khazanah exits Java highway ops

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).