Wednesday, June 26, 2013

Indonesia Market Summaries 26 June 2013 Session 2

  • PT Bank Tabungan Pensiunan Nasional Tbk (BTPN) immediately finalize the acquisition of PT Bank Sahabat Purba Danarta. After 70% stock transaction valued at Rp600 billion, Bank Sahabat Purba Danarta base in Semarang city, will be sharia bank.

    Acquisitions that have been revealed since 2011 ago would take a majority stake in Bank Sahabat previous owner, PT Persada Triputra Rachmat, owned by former high-ranking Astra Group, Mr. Theodore Permadi Rachmat. BTPN it self, recently acquired by Sumitomo Mitsui Bank from TPG Capital. (Bisnis Indonesia, Investor Daily, Kontan)
  • PT Perusahaan Gas Negara Tbk (PGAS, Rp5.100) to acquire oil and gas blocks that are already in production for 10 years, Ujung Pangkah Block, in East Java. Acquisitions worth U.S. $ 265 million (equivalent to Rp2,62 trillion) was done by buying Kufpec Indonesia (Pangkah) BV from Kuwait Foreign Petroleum Exploration Company KSC. The gas block is located 50 Km from the industrial center of Surabaya. (Bisnis Indonesia, Investor Daily)
  • The oil and gas of Bakrie Group, PT Energi Mega Persada Tbk (ENRG, Rp111) plans to pay off debts totaling U.S. $ 400 million to Credit Suisse and ND Owen Holdings Ltd. (Investor Daily, Bisnis Indonesia)
  • PT Benakat Petroleum Energy Tbk (BIPI, Rp139) completed the acquisition of PT Astrindo Mahakarya Indonesia. In addition to transaction valued at U.S. $ 600 million, the completion was also accompanied by the completion of the acquisition of PT Benakat Patina worth U.S. $ 105 million. (Bisnis Indonesia)

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