Why Hashim S. Djojohadikusumo cancels his plan to acquire a 45% stake in PT Tuban Petrochemical Industries (Tuban Petro) of 70% stake controlled by the government through the Assets Management Company (PPA). ?
My Source took me there were dispute between Hashim and Sila Kencana Lestari led by Honggo Wendratno.
Tuban Petro controls a 59.5% stake in TPPI and 80% stake in PT Polytama Propindo. Outside of PPA, the other shareholders of Tuban Petro are Itochu Corporation (4.25%), Tuban Petrochemicals Pte Ltd, subsidiary of Siam Cement PCL (17%), Sojitz Corporation (4.25%), and Pertamina (15%).
Sunday, March 25, 2007
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