Astra's unit sales completed

Astra's unit sales completed

SINGAPORE (Dow Jones): PT Astra Indonesia has completed the
sale an electronics unit to a U.S.-owned investment fund, one of
the first sales by a debt-ridden Indonesian group.

An Astra executive and CIBC World Markets, its advisors, told
Dow Jones Newswires on Thursday that all documentation for the
US$90 million sale to Newbridge Capital Asia was completed
Tuesday night in Jakarta. "The deal is done and the payment will
be made shortly," the Astra executive said.

In the transaction, first agreed to in September, Astra sold
PT Astra Microtronics Technology, an integrated circuit assembly
and test subcontractor on Batam Island, about 20 kilometers from
Singapore.

Newbridge is mostly owned by two U.S. private investors, Texas
Pacific Group and Richard C. Blum & Associates of San Francisco.
(Blum is married to California Senator Dianne Feinstein.)
Newbridge manages more than US$8 billion.