| Reviewed a new state option if Antam mastered inalum |
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| Monday, 26 July 2010 10:24 | |||||||
Page 1 of 2 JAKARTA - The establishment of new SOEs became one of the options if the PT Aneka Tambang (Persero) Tbk has successfully acquired 100% stake in PT Indonesian Aluminum (inalum).SOE Minister Mustafa Abubakar said the establishment of new SOEs can be done if this option is considered more appropriate to continue with business continuity inalum after the takeover of shares. Mustafa, in his statement to the press this afternoon, believes there are studies that show the existence of financial capability, technical, and management to accept the transfer of such shares. Three state-owned financial institutions have expressed a readiness to support the financing of acquisition of shares Inalum by Antam is expected to reach U.S. $ 800 million. All three financial institutions that are PT Danareksa (Persero), PT Bahana Securities, and Asset Management Company (PPA). Danareksa has set aside up to Rp8 trillion to support the financing of Antam. Deputy Minister of SOEs in Banking and Financial Services Parikesit Suprapto previously revealed if Antam taken directly inalum through acquisition, subject to approval by shareholders. If Antam act as an investor through the intercession of the three financial companies, do not require shareholder approval. So far the government control of 41.12% stake inalum and the rest is owned by a consortium of Japanese companies under the auspices of the Nippon Asahan Aluminium (NAA). NAA is currently operating inalum proposed contract extension, the truth will end in 2013. The negotiation process is still ongoing and the government is also preparing a number of options when working with Japanese companies were continuing. By: Ratna Ariyanti (Bisnis.com)
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Legitimacy & Law
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