Weekly Business

CORPORATE
Rajawali Sells Semen Gresik

THE Rajawali Group relinquished 23.65 percent of its shares in cement company PT Semen Gresik Tbk last week. The sale of 1,355 billion shares yielded US$1 billion or approximately Rp9.48 trillion. The company owned by Peter Sondakh gained profit of around US$660 million from the sale. According to Darjoto Setiawan, Executive Director of PT Indonesia Rajawali, the sale is part of their investment strategy. Th

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