Astra sale by end March 2000<\/p>\n
HONG KONG (Dow Jones): The Indonesian Bank Restructuring
\nAgency said Wednesday it will likely complete the sale of its
\nstake in PT Astra International (P.ASI) by the end of March 2000.<\/p>\n
\"We have identified three or four genuinely interested
\nbidders,\" IBRA Deputy Chairman Farid Harianto told reporters on
\nthe sidelines of a Euromoney conference in Hong Kong, confirming
\nits sale of a 20 percent-30 percent stake should be completed in
\nthe first quarter.<\/p>\n
IBRA said last week it would set a minimum price based on a
\nbid by a consortium of foreign buyers, led by U.S. investment
\nfunds Newbridge Capital and Gilbert Global Equity Capital.<\/p>\n
With bids already received by that consortium, IBRA - which
\nowns 40 percent of PT Astra - has said it would open a second
\nround of bidding for part of its stake this week, giving a chance
\nfor others to bid on the stake.<\/p>\n
IBRA owns 40 percent of Astra as a result of its assumption of
\na big block of shares pledged to the agency by debt-ridden
\nIndonesian companies and individuals last year.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/astra-sale-by-end-march-2000-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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