02 February 2006 09:45 [Source: ICIS news]
Temasek paid $700m (Euro580.9m) for a 50.45% stake in the olefins producer, Indonesian newspaper Investor Daily quoted Chandra Asri's corporate secretary Suhat Miyarso as saying. The transfer of shares was conducted on Friday and Temasek bought the stake from "several shareholders", including trust fund Commerzbank International Trust Singapore (CITS), it added.
Officials from Temasek and Chandra Asri declined to comment.
CITS, a unit of
Inter Petrindo Inti Citra, part of Indonesian conglomerate Barito Pacific Group, holds the remaining 49.55% stake.
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