Garibaldi Venture Cap divests Gajah Tunggal stake — report

Jakarta — Newswires are reporting on a story from Indonesian daily paper, Bisnis Indonesia, that Singapore-based Garibaldi Venture Capital has sold a large stake in Indonesian tyre maker Gajah Tunggal to Denham Pte Ltd, of Singapore. Reports indicate that Garibaldi has reduced its stake in Gajah Tunggal to 21.11 percent, from 43.58 percent.

A year ago, Garibaldi reportedly bought a 68 percent stake in GT. Other shareholders include Groupe Michelin, with a 10 percent stake and Global Union Fiber Investment with a total stake of…

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