GIC-Led Group, INA Consortium Vie for Jasa Marga Unit Stake (1)

A consortium led by GIC Pte and another group headed by Indonesia Investment Authority are among the final bidders for a stake in one of PT Jasa Marga’s units, according to people familiar with the matter.

The Indonesian state-owned toll road operator is in talks with potential investors to sell about a 35% stake in PT Jasamarga Transjawa Tol, the people said. The stake sale could raise at least $750 million, said the people, who asked not to be identified as the information is private.

The GIC-led group and the INA-led consortium are in advanced discussions for the Transjawa ...