Thu, 14 Oct 2010
From: The Jakarta Post
By Nani Afrida, The Jakarta Post, Jakarta
The plan of state oil and gas PT Pertamina to divest a stake in its subsidiary PT Patra Jasa has attracted many investors, including foreigners, a property consultancy said Wednesday.

“Five foreign investors have called us to conduct some reviews of the divested stake in Patra Jasa,” Jones Lang Lasalle Indonesia vice president Djodi Trisusanto said on the sidelines of a press conference in Jakarta.

Djodi said the five foreign investors were interested in the stake because Patra Jasa had many potential assets including two five-star hotels in Jakarta and Bali, and several plots of land in strategic locations in Jakarta.

Djodi declined to provide more information on the investor candidates.

Hakim Polem, the head communications at state assets management company PT PPA, said the divestment was currently underway.

“Foreign investors may be involved in this divestment. Usually they join auctions, even though these are small auctions,” Hakim said.

Last Wednesday, Pertamina announced plans to divest its majority stake in its subsidiary PT Patra Jasa that is focused on the property sector. The 66.67 percent stake has been valued at Rp 3.377 trillion (US$266 million).

Pertamina has appointed PPA to manage Patra Jasa assets.



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