Indonesia's PT Silakencana Tirtalestari to buy 50% stake in PT Tuban

Indonesia's PT Silakencana Tirtalestari (owned by Honggo Wendratno)is to acquire another 50% of PT Tuban Petrochemical Industries from state asset management company PT Perusahaan Pengelola Aset (PPA) for 3.2 trillion rupiah. The acquisition will increase Silakencana's stake in Tuban Petrochemical to 80%. PPA currently owns 70% of Tuban Petrochemical. The transaction is expected to be completed early next year.
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