IBRA cancels Indomaret's IPO<\/p>\n
JAKARTA (JP): The Indonesian Bank Restructuring Agency (IBRA)
\nhas decided to sell its 51 percent share in retailer PT Indomarco
\nPristama (Indomaret) to a strategic investor through a
\ncompetitive auction instead of through an initial public offering
\n(IPO) as initially planned.<\/p>\n
IBRA said on Thursday that the decision was made based on the
\nresult of a meeting held by the Financial Sector Policy Committee
\n(FSPC) held on Nov. 10.<\/p>\n
The agency said the sale of its stake in the retailer to a
\nstrategic investor would give it a better opportunity to get
\nmaximum gain.<\/p>\n
The Salim Group transferred its 51 percent ownership in
\nIndomaret last year to IBRA as part of the restructuring of the
\nbusiness group's massive debts to the government.<\/p>\n
Publicly listed cigarette company PT Hanjaya Mandala Sampoerna
\nhad proposed buying a majority stake in Indomaret last month but
\nit did not receive a positive response from IBRA. (hen)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ibra-cancels-indomarets-ipo-1447893297",
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"sponsor": "Okusi Associates",
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