AUGUSTASIA BUSINESS OUTLOOK8NEWSROOMSWEDISH FIRM BPEA EQT CONCLUDES MERGER OF HONG KONG'S VISTRA & TRICOR, BRINGING UP VALUATION TO $6.5 BILLIONCHINA SEEKING TO STRENGTHEN THEIR STRATEGIC TIES WITH INDONESIABPEA EQT, a subsidiary of Sweden's EQT, announced on Friday that it had completed the merger of its Hong Kong-based business services firms Vistra and Tricor, valuing the combined entity at $6.5 billion, including debt.In 2021, BPEA paid $2.8 billion to private equity firm Permira for business expansion specialist Tricor. In 2015, the company paid an undisclosed sum for a majority stake in Vistra.Simon Webster, who joined Vistra as CEO in November 2022, will lead the combined company, according to BPEA EQT.In a separate statement, Vistra stated that the company and Tricor will merge in early 2024 and will continue to be owned by BPEA EQT. China is willing to deepen its strategic cooperation with Indonesia, according to state media on July 27. According to sources, Xi made the remarks during a meeting with Indonesian President Joko Widodo in the southwestern Chinese city of Chengdu.Widodo is in China to attend the FISU World University Games opening ceremony in Chengdu.As the Jakarta-Bandung high-speed railway nears completion, China and Indonesia should ensure its high quality, according to Xi.The high-speed rail project, a flagship project of Indonesia's president and a component of China's Belt and Road Initiative, has been hampered by budgetary issues and is already four years behind schedule."The two sides should make every effort to do a good job in the last kilometre of construction and ensure the high standard and high quality of the project," Xi said.China is also willing to expand imports of Indonesian bulk commodities and agriculture products, said Xi. He also highlighted areas for cooperation such as new energy automobiles as well as smart cities. AUGUSTASIA BUSINESS OUTLOOK8
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