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Indonesia’s Podomoro buys mall operator for USD23m

Indonesia’s publicly listed property developer PT Agung Podomoro Land (APLN) announced on Monday the completion of a IDR210 billion (USD23 million) acquisition of a 65 percent stake in PT Pandega Citraniaga, a mall owner and operator in East Kalimantan.

The acquisition is part of Agung Podomoro’s business plan to acquire up to 15 projects this year.