PT Pertamina (Persero) to sell 66.67 percent stake in subsidiary PT Patra Jasa with a base price of Rp2, 377 trillion.
In the announcement in a number of acquired mass media here on Thursday Oct 6, 2010) stated, Patra Jasa stock sales program that is part of Pertamina's strategic plan to focus more on its core business.
Sales of shares made through private placement to a strategic investor. With a base price system, the strategic investors who are interested must bargain over Rp2, 377 trillion.
As supporters of the divestment process of PT Pertamina, has appointed the Asset Management Company (PPA) as an asset manager Patra Jasa.
Patra Jasa, founded on July 17, 1975 is a subsidiary of Pertamina, which moves in the field of hospitality, rental of office space and rental homes.
The company owns 99.98 percent or 54,872 shares of Patra Jasa and PT Patra Niaga, a subsidiary of Pertamina other, 0.02 percent or 10 controls the remaining stake.
Patra Jasa operates seven hotels located in Jakarta, Bandung, Cirebon, Semarang, Bali, Parapat, and Anyer. The company also operates an office building, Patra Office Tower on Jalan Gatot Subroto Jakarta, the Patra Residential rental house consisting of 132 houses and lots in Kuningan, South Jakarta and office space at Menara Sudirman, Jakarta.
Criteria for prospective investors is a national or a foreign company. However, foreign ownership limited to a maximum 51 percent stake Patra Jasa.
Patra Jasa stock sales schedule is the administration and registration at 8 to 26 October 2010, due diligence October 13 until November 1, 2010 and bids and the completion of the transaction 3 November to 16 December 2010.
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