INDONESIA PRESS-Property developer Cowell buys nearly 85 pct in Nusantara Prospekindo-Kontan

Sun Jul 13, 2014 9:38pm EDT

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Indonesian property developer PT Cowell Development Tbk bought a 84.99 percent stake worth 503.02 billion rupiah ($43.3 million) in PT Nusantara Prospekindo Sukses, said Chief Executive Novi Imelly.

The firm plans to develop a block on a 13-hectareland in Cikarang, West Java, where currently Nusantara Prospekindo is building an apartment near the location. (Kontan, Investor Daily)

Note: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 11,610.00 rupiah) (Compiled by Jakarta Newsroom; Editing by Subhranshu Sahu)

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