Sumitomo Deal Boosts Indonesian Infrastructure Co.

Law360, New York (March 19, 2012, 3:05 PM EDT) -- Japanese trading house Sumitomo Mitsui Banking Corp. will give a state-owned Indonesian infrastructure company a financial boost and additional corporate assistance that will help propel national projects, in exchange for a 14.9 percent cut in the company, SMBC said Monday.

In a signed business alliance agreement, PT Indonesia Infrastructure Finance has agreed to give the stake to SMBC in return for an undisclosed capital injection and the possibility of pooling company resources on future projects. The deal is expected to help boost the number of commercially...
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