Asia Digest: Indonesia’s Urban Jakarta, XL Axiata and Malaysia’s Bumi Armada in M&A news

In a bid to expand its operations, Indonesia-based property firm Urban Jakarta Propertindo (UJP) is in talks to acquire a local company, which has around six-hectares of land in East Jakarta area. On the other hand, the country’s telecommunication company XL Axiata is the process of reviewing a plan to sell its 4,500 telecom tower assets. In a separate development, Malaysia’s listed offshore oilfield services provider Bumi Armada Bhd is selling its non-utilised FPSO vessel Armada Perdana FPSO.

Urban Jakarta in talks to acquire local peer

Listed property company in Indonesia Urban Jakarta Propertindo (UJP) is in talks to acquire a local company, which has around six-hectares of land in East Jakarta area, corporate secretary Tri Rachman Batara said.

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