Surya sells Denso shares

JAKARTA (JP): Publicly listed property developer PT Surya Semesta Internusa announced Friday that it planned to sell half of its shares in PT Denso Corporation Indonesia, an automotive spare parts manufacturer.

The company said Japan's Denso Corporation, Toyota Automatic Loom Ltd. and Toyota Tsusho Corporation have principally agreed to buy its Denso Indonesia shares.

The company expects the plan to be approved by its shareholders in an April meeting.

Surya currently owns 25.66 percent of Denso Indonesia.

The company said the sale was due a new focus in its core business operations of property and industrial park development. (gis)