Indonesia and Singapore Wealth Funds Target Transjawa Toll Road Shares

By Editorial Team 12/10/2023
trans jawa
Summary

PT Jasa Marga (Persero) Tbk released 35 percent of PT Jasamarga Transjawa Tol (JTT) shares to several new investors. According to Bloomberg, Singapore-based financial institutions Government of Singapore Investment Corporation (GIC) Pte and Indonesia Investment Authority will annex the shares worth US$750 million. "The GIC-led consortium and the INA-led consortium are in advanced discussions for Transjawa Toll Road shares," a Bloomberg source said. According to the source, other parties are still interested in the Transjawa Toll Road shares.

Jasa Marga Corporate Communication and Community Development Group Head Dwimawan Heru Santoso said the equity financing process for the Transjawa Toll Road is still ongoing and has been carefully prepared through a thorough discussion and finalization process with potential strategic partners. "We can confirm that equity financing for Transjawa Toll Road is an equity-based funding strategy that in the future can be used as an alternative to long-term infrastructure funding," he said on Oct 10.

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