Express Transindo Utama Takes Over Ekspres Mulia Kencana for US $6.87 million
Express Transindo Utama (Express), the Indonesian taxi operator that is controlled by Peter Sondakh's Rajawali Corpora, has acquired an entire stake in Jakarta-based taxi operator Ekspres Mulia Kencana for IDR 67 billion (USD $6.87 million). This take over - which had been announced last year - will add 2,000 licensed taxi units to the company's current total taxi fleet size of about 8,000 taxis (which are primarily in operation in the Greater Jakarta area).