JAKARTA — A consortium led by Singapore-based Cycle & Carriage Ltd. comes out on top in a bidding contest to purchase a controlling stake in Indonesian automaker PT Astra International. The consortium purchased a 39.5% stake in the company, reportedly for US$506 million. Leading shareholder C&C, an automotive distributor, holds 23.1%. Other members of the consortium include the Government of Singapore Investment Corp. Pte. Ltd., Lazard Asia Fund, PT Bhakti Investama and Batavia ...
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