Deals
Rajawali Buys 23.6% of Nusantara Infrastructure
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Indonesia’s Rajawali Group said it bought a 23.6 percent stake in construction company PT Nusantara Infrastructure for about 448 billion rupiah ($49.7 million) today to support its mining business.
Rajawali bought 3.2 billion Nusantara shares from Infrastructure Growth Fund at 140 rupiah apiece, or 36 percent below yesterday’s closing price. Shares of Nusantara jumped 11 percent to 245 rupiah at the 4 p.m. close in Jakarta, beating the 1.6 percent drop in the benchmark stock index.