Asdion to buy 51% stake in Indoexpress


KUALA LUMPUR: Asdion Bhd has proposed to acquire a 51% stake in PT Indoexpress Logistics (Indoexpress) for RM6mil.

In a filing with Bursa Malaysia, Asdion said its 99% owned sub-subsidiary, PT Trans Infra Nusantara (PTTIN) has entered into a conditional share sale agreement (CSSA) with PTGDS for the acquisition of 51,600 ordinary shares, or 51% stake in Indoexpress.

Upon completion of the acquisition, Indoexpress shall become a 51% owned sub-subsidiary of Asdion.

Indoexpress is principally involved in the business of total logistics services in Indonesia.

“The group is seeking further business opportunities in logistics industry,” Asdion said.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Asdion , acquisition , Indoexpress

   

Next In Business News

Australia expected to keep key interest rate at 12-year high today
Hyundai Motor shares rise as Indian unit files for IPO
Paytm in talks to sell movie ticketing business
Keen competition a challenge for Bermaz Auto
Oil dips after weekly gain
Upbeat outlook for QL Resources on lower costs
Prospects looking up for Coastal Contracts
Hydrogen energy plans draw foreign interest
Top business groups convene strategy meetings
Mainland investors rush for offshore assets

Others Also Read