Sunday, December 16, 2007

Bormindo will get Apexindo ???

PT Bormindo Nusantara has more opportunity to win the battle to take over 51.4% shares of Apexindo Pratama Duta of Medco Energi Internasional even though it bid the price at only IDR2,425 per stock, lower than the bid of Abacus Capital at IDR2,450.

The closing transaction should be next year. Two investors, Abacus Capital and PT Bormindo Nusantara, are competing to get controlling stocks of Apexindo as Texas Pacific Group and PT Recapital Investment Bank have lost their opportunity.
Medco insist that the price must be IDR2,700 but analyst said it has been too high

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