FCC's deal with RI firms

FCC's deal with RI firms

SINGAPORE (Reuter): First Capital Corp Ltd (FCC) said yesterday it had signed a memorandum of understanding (MOU) in Jakarta with three Indonesian firms to buy a 40 percent stake in Indonesian company P.T. Wiranusa Grahatama (WG).

It said in a statement the three Indonesian firms were PT Unggul Indah Corp (UIC), PT Salim Chemicals Corp (Salim) and PT Ekaprana Graha Adhika (Ekaprana), a wholly-owned subsidiary of the Wings Group

It said UIC would take 40.3 percent of the equity, Salim 11.8 percent and Ekaprana 7.9 percent.

WG would build a commercial/residential development on a 31,000 sq m site locate in Jakarta, it said.