Khazanah to get RM2 bil offer for Indonesia toll road

KUALA LUMPUR – Malaysia’s sovereign wealth fund, Khazanah Nasional Bhd has received an offer of about $500 million for its stake in Indonesian toll-road operator, according to source.

Indonesia-based Astra Infra and Canada Pension Plan Investment Board teamed up in bidding to acquire a 55% stake in PT Lintas Marga Sedaya, the concession holder of a 117-kilometre toll road connecting Jakarta to Cirebon.

Khazanah controls 55% of Lintas Marga through its unit UEM Group Bhd, while the remaining 45% are owned by Astra Infra. Astra Infra is wholly-owned by PT Astra International, a car company.

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