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from THE JAKARTA POST -- FRIDAY, MAY 30, 2008 -- PAGE 14 Shareholders of publicly listed property developer PT Bakrieland Development have approved the management's plan to acquire a 75 percent stake in PT Alberta Utilities.
Last April, PT Bakrie Infrastructure, a Bakrieland subsidiary, signed an agreement to buy a 75 percent stake in Alberta for Rp 21.35 billion (US$2.28 million). The agreement was subject to shareholders approval.
"With the approval, the company will be able to build a strong foundation for its infrastructure business, mainly in toll road and water management projects," Bakrieland president director Hiramsyah S.
Thaib said in a media …