Bakrie & Brothers has concluded the restructuring of US$121 million debts of its unit PT Seamless Pipe Indonesia Jaya (SPIJ), a producer of seamless pipe.
"We have restructured the debt by converting it into shares. The debt has declined from US$183 million to US$62 million," said Finance Director Bakrie & Brothers Yuanita Rohali, yesterday
The ownership of Bakrie & Brothers has declined from 37.5% in 1985 to 19.6% at the end of 2007.
Tuesday, April 29, 2008
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