Friday, September 14, 2007

Investors to File Proposal Today

PT Medco Energi Internasional Tbk of Panigoro Family has offered 52% shares of PT Apexindo Pratama Tbk to 20-30 domestic and offshore investors.

Among the companies getting the offer are Texas Pacific Group (TPG), 3I Group, Ashmore, Recapital, and some offshore investors including the ones from the Middle East. Credit Suisse has become Medco's financial advisor.

Medco, will sell Apexindo at IDR2,400 per shares, a premium from IDR2,125 yesterday and IDR2,050 two days ago.

The other 32% shares of Apexindo belong to Seadrill Ltd, a company controlled by Norwegian conglomerate John Fredriksen.

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