KUALA LUMPUR ~ Malaysia’s largest highway toll-operator, PLUS Expressways, has agreed to acquire a 55-percent stake in Indonesia’s toll-road company, PT Lintas Marga Sedaya.

PLUS said in a statement to Bursa Malaysia on Wednesday said that it had entered into a preliminary agreement with PT Baskhara Utama Sedaya, parent of Lintas, on the planned acquisition.

Lintas has been awarded a 35-year concession to build and operate the 16-kilometre-long Cikampek-Palimanan highway in Jakarta.

A purchase price was not disclosed as final terms had yet to be agreed upon, the statement read.