RI group bids for L&M<\/p>\n
SINGAPORE (Reuter): A group of Indonesian tycoons, including a
\nson of President Soeharto, has launched a takeover bid for
\nconstruction group L&M Group Investments Ltd. at S$1.45 per share
\nand S$0.45 per warrant, L&M said.<\/p>\n
The group includes Soeharto's son Bambang Trihatmodjo as well
\nas Johanes Kotjo, who controls Van der Horst and ABR Holdings
\nLtd.<\/p>\n
Also involved are Endang Utari Mokodompit and Winarto.<\/p>\n
The sale price values L&M at S$214 million, excluding
\nwarrants.<\/p>\n
L&M said in a statement that the Indonesians had agreed with
\nL&M parent Guthrie GTS Ltd. and three of its subsidiaries to buy
\nthe latter's 40.2 percent stake in L&M or 59.38 million shares at
\nS$1.45 per share, as well as 6.2 million L&M warrants for S$0.45
\neach.<\/p>\n
Guthrie, a property and trading group, agreed to sell to the
\nIndonesians all its shares and 6.2 million warrants for S$88.9
\nmillion, L&M said. The deal involves a series of put and call
\noptions by the parties which must be exercised en bloc. The deal
\nis conditional upon Guthrie obtaining approval from its
\nshareholders in a general meeting.<\/p>\n
The takeover vehicle to be used is Zasidon Pte. Ltd., an
\ninvestment holding company incorporated in Singapore.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ri-group-bids-for-lm-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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