Lippo ties up with GMAC

Lippo ties up with GMAC

JAKARTA (JP): The Lippo Group and General Motors Acceptance Corp. (GMAC) of the United States have formed a joint multi- finance venture to help market U.S. cars and trucks in Indonesia.

Hartono Parbudi, an executive of the new venture, called GMAC Lippo Finance, said in a statement here yesterday that his company will provide financing and leasing supports for the marketing of automobiles produced by PT General Motors Buana Indonesia under the brand names of Opel.

General Motors Buana is the sole agent and distributor for General Motors cars and trucks in Indonesia and GMAC is a subsidiary of General Motors. (rid)