Pertamina never bid at above IDR300

PT Pertamina claimed to never bid at above IDR300 per share unit for the 37.67 percent or 2.71 billion PT Elnusa Tbk shares.
Finance Director of Pertamina Ferederick ST Siahaan said from the initial to the last bid, the company always sets the price under IDR300.
So far Pertamina shareholder have not approved yet the schem. But boards of directors could propose bid for Elnusa which will be sold by PT Tri Daya Esta.
Director of Investment Banking of Bahana Securities Eko Yuliantoro, the financial advisor of Tri Daya, declined to comment on the detail bid. But he was surely to meet the management of Tri Daya today.
"We have opened the bid proposal from investors and we will unveil the resume. Then it is up to Tri Daya to make decision . it is likely that the parties involving in the transaction will continue negotiating the terms and conditions."
The winner of tender of Elnusa divestment will not simply refer to the investors with highest bid.
There have been three companies submitting bid proposal to buy Elnusa and the winner will be unveiled this week. "If possible, there will be decision on Elnusa buyer."
The other companies submitting bid proposal for Elnusa include the consortium of Ciptadana Capital and consortium of Northstar Pacific Partners and Saratoga Capital.
The consortium of Nortstar-Saratoga propose IDR450 price per share unit and Ciptadana IDR315.
However, a rumor said the consortium of Northstar-Saratoga walked out from the acquisition plan. But the CEO of Saratoga Sandiaga S. Uno declined the issue. "IT's not true," he said by short message service.