Race heats up for Jakarta terminal stake

A consortium headed by a Neptune Orient Lines subsidiary has reportedly offered $150 million for a stake in Koja Container Terminal, but will it be enough to see off the competition?

A consortium headed by Neptune Orient Lines NOL is up against Hutchison Whampoa and a group of Indonesian investors to acquire a 49% stake in Koja Container Terminal in Jakarta. A report in The Business Times in Singapore cites unnamed sources as saying NOL subsidiary American President Line APL, in partnership with Samudera Shipping Lines SSL and Temasek Holdings, the investment arm of the Singapore government, has offered $150 million for the stake.

Ron Widdows, senior vice-president of operations at APL says The Koja Terminal would better protect our interests and provide APL with the ability to have a greater influence in the operations of the terminal, provide better controls over costs...

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