Boards of directors of PT Pertamina still doubts to top up shares possession at PT Elnusa Tbk due to the absence of approval given by the general meeting of shareholders.
On the other side, the seller of Elnusa stocks, PT Tridaya Esta, and its finance advisor PT Bahana Securities, provided deadline of the offering today as from June 1.
"Without any approval given by the GMS, Pertamina will not likely submit its last bid unless Tridaya suspends the process while waiting for approval for Pertamina," said an informed executive yesterday.
In addition to Pertamina with its 41.7 percent Elnusa stock possession, now there are two other buyers interested in buying Elnusa stocks, namely the consortium of Northstar Pacific and Saratoga Capital and the consortium Ciptadana Capital supported by the wealth management assets.
Friday, June 5, 2009
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