Indonesia's Pandu Siwi Group, one of the largest logistics providers in the archipelago, said it plans to sell 40 percent of its shares to Emirates Post, a post office company owned by the government of the United Arab Emirates.
The process of acquisition, valued at least US$11.1 million according to the Dubai firm, is expected to be wrapped up January.
The Pandu Siwi group has ambitions of becoming the largest logistics company in Southeast Asia in the next five years.
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