AP II to acquire 25% stake in W. Java airport operator
Tuesday, May 21 2019 - 04:11 AM WIB
State-owned airport management company PT Angkasa Pura II (AP II) plans to acquire a 25 percent participating interest in PT West Java International Airport (BIJB), which operates the Kertajati International Airport in Majalengka, West Java Province.
BIJB is owned by the West Java provincial administration. Antara quoted West Java provincial administration Secretary Iwa Karniwa as saying Monday that talks have started recently with AP II to realize the latter’s plan to have a 25 percent interest in BIJB.
He said that the talks included determining the value of the 25 percent stake, estimated at around Rp 625 billion.
Iwa said that the fresh capital from AP II will be among others used by BIJB to repay debts.
He added that BIJB is also considering to divest another 11 percent stake to a Malaysian firm, valued at around Rp 260 billion-Rp 290 billion. (*)