Astra to acquire Mega Manunggal Property

Logistics expansion: Heavy traffic on a street during the morning rush hour in Jakarta.Mega Manunggal Property is an Indonesia-based company focusing on real estate and storage, as well as operating warehouses. — Bloomberg

JAKARTA: Publicly listed conglomerate PT Astra International (ASII), through its subsidiary PT Saka Industrial Arjaya (SIA), is set to acquire an 83.67% stake in warehouse company PT Mega Manunggal Property (MMLP).

SIA plans to purchase MMLP shares from PT Suwarna Arta Mandiri, which holds the largest stake at 49.2%; Bridge Leed Ltd, which owns 17.51%; and several minority shareholders.