Morgan Stanley acquires Ometraco stake<\/p>\n
JAKARTA (JP): Morgan Stanley Capital Partners (MSCP), the
\ndirect investment unit of the U.S.-based Morgan Stanley Group,
\nhas expanded into Indonesia by acquiring a nine percent stake in
\nthe publicly listed Ometraco Corporation.<\/p>\n
Daniel Mintz, the director for MSCP's Asian operations, said
\nyesterday that the equity participation deal worth around US$20
\nmillion is expected to give the company more access to the
\ngrowing potential of the Indonesian economy.<\/p>\n
\"Through Ometraco, we will further identify business expansion
\nparticularly in consumer-based industries and financial
\nservices,\" he said after the inaugural ceremony of the two
\ncompanies' tie-up.<\/p>\n
The ceremony was attended by Alen E. Goldberg, MSCP's vice
\nchairman, and Ferry S. Santosa, the chairman of the Ometraco
\nGroup.<\/p>\n
Mintz said that the direct investment, the first such
\ncooperation in Indonesia, was made after months of studies on
\nOmetraco's operational and management performance.<\/p>\n
\"We hope the tie-up will benefit Ometraco from Morgan's wide
\noperational networks,\" he said.<\/p>\n
MSCP, which is listed on the New York Stock Exchange, has
\ntotal assets of around $110 billion.<\/p>\n
Mintz said that the company, which has 24 overseas offices,
\nhas a direct investment of around $1.8 billion worldwide, half of
\nwhich is placed in non-American companies located in Asia and the
\nPacific.<\/p>\n
Omteraco's president, Boyke Gozali, said that the cooperation
\nreflected the confidence of foreign companies not only in the
\nfuture of Ometraco but also in the prospect of the country's
\nmacro-economy.<\/p>\n
He said that Ometraco, which is now engaged in poultry and
\nshrimp feed production, pharmaceuticals, consumer products,
\ncommunication and financial services, expects to receive many
\nbenefits from its partner not only in management skills but also
\nin its wide market networks.<\/p>\n
Boyke also said that Ometraco will soon acquire a 51 percent
\nstake in the publicly-listed Bank Tiara to give Ometraco stronger
\nfinancial structure and wider market access.(hen)<\/p>",
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