Rajawali sell Semen Gresik

Grup Rajawali via Blue Valley Holdings Pte Ltd sell 24,9 percent shares of PT Semen Gresik Tbk.

Accordingly, Blue Valley has today launched a transaction to sell 70% of its shareholding in the Company (equivalent to 17.43% of the outstanding shares in the Company) and has appointed JP. Morgan as the sole bookrunner for this proposed sell-down.

JP. Morgan has also been given a one time option to increase the number of shares being sold to up to 95% of Blue Valley’s shareholding in the Company. Blue Valley will reserve 5% of its total shareholding in the company for the Goverment or its affiliates to purchase, at their discretion, at a future date.

"We are privileged to be part of the company’s growth. Our partnership with the Goverment Indonesia is a true example of how the goverment and private shareholders can work together to create value. Although our shareholding will decrease, our support for the Company will continue", said Peter Chambers, Director – Blue Valley Holdings Pte.Ltd., today

Blue Valley currently holds a 24.9% stake in Semen Gresik which it acquired in 2006, there by beginning its partnership with the Government of Indonesia, the majority shareholder of the Company with a 51% stake.

Over the years, Blue Valley and GoI have worked closely to improve the operating and financial position of the Company, and deliver strong shareholder returns.
Blue Valley has decided to monetize a portion of its investment in the Company and to re-deploy its funds for other purposes.