C&C eyes more Astra shares<\/p>\n
SINGAPORE (Dow Jones): Singapore's Cycle & Carriage Ltd.
\nconfirmed Tuesday that it is in discussions with Lazard Fund Asia
\nto buy a 4 percent stake, or 103 million shares, which Lazard
\nholds in Indonesia's PT Astra International.<\/p>\n
"Lazard has indicated in writing that it wants to sell its
\nstake in Astra and we are in discussions with them," said Neville
\nVenter, finance director of Cycle & Carriage.<\/p>\n
Cycle & Carriage currently has a 23 percent stake in Astra.<\/p>\n
Lazard is one of the five members in a consortium led by Cycle
\n& Carriage that bid successfully for a 40 percent stake in
\ndiversified Indonesian auto maker Astra for US$506 million.<\/p>\n
Cycle & Carriage is likely to sign a sale-and-purchase
\nagreement early next week, Venter said. He said the purchase
\nprice "is not far from Rp 3,700 (45 US cents) per share," adding
\nthat the acquisition will be financed through bank borrowings.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/cc-eyes-more-astra-shares-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
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