Bhakti acquires Salim Oleochemicals for $131m<\/p>\n
JAKARTA (JP): PT Holdiko Perkasa has sold its stake in the
\nSalim Oleochemicals Group to a local consortium led by PT Bhakti
\nInvestama Group for about US$131 million, the Indonesian Bank
\nRestructuring Agency (IBRA) announced here on Tuesday.<\/p>\n
Dasa Susantio, the director of the agency's asset management
\ndivision said that by the closing of bidding, IBRA had received
\ntwo very competitive bids from local investors.<\/p>\n
"Consequently, a third round of bidding had to be conducted
\nand we eventually chose the bid that had less prerequisites
\nattached to the offer," Dasa said.<\/p>\n
Holdiko was established last year to manage the assets of more
\nthan 100 companies surrendered by the Salim Group to IBRA as part
\nof the business group's debt settlement with the agency.<\/p>\n
The Salim Oleochemicals Group consists of seven operating and
\nmarketing companies, which produce and sell natural fatty
\nalcohol, the main raw material for the production of detergents
\nand personal toiletries.<\/p>\n
According to IBRA, two companies within the group, PT Batamas
\nMegah and PT Prima Inti Perkasa, are the only producers of
\nnatural fatty alcohol in the country, and have a combined
\nproduction capacity of 90,000 metric tons of fatty alcohol per
\nyear<\/p>\n
Salim Oleochemicals also owns assets in four other countries.<\/p>\n
"We are very pleased to have won this sale, and believe that
\nwe have made a good business decision," Bhakti president Harry
\nTanoesoedibyo said.<\/p>\n
Holdiko director Scott Coffey said the sale of the stake would
\ncontribute nearly 25 percent of Holdiko's target budget for this
\nyear.(hen)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bhakti-acquires-salim-oleochemicals-for-131m-1447893297",
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