RI investors bid for UPP<\/p>\n
SINGAPORE (Reuter): United Overseas Bank Ltd. and N.M.
\nRothschild said a group of Indonesian investors including Bambang
\nTrihatmodjo and Johanes Kotjo had entered a series of call and
\nput options which could lead to a takeover offer for the company
\nat Singapore $1.10 per share.<\/p>\n
The institutions, acting as financial advisors to the
\nIndonesian investors, said in a statement that their clients had
\ntaken call options on a total of 43.5 percent of the shares in
\nUnited Pulp & Paper which must be exercised by Jan. 31 1996.<\/p>\n
The options are in two blocks. One block of 39.9 million, or
\n35 percent, of UPP's shares, is between Branburgh Holdings Pte
\nLtd, owned by Bambang and Prajogo Pangestu, as buyers and Muda
\nHoldings Berhad and Grangeway Trading Pte Ltd as sellers.<\/p>\n
The other block of 9.7 million shares, or 8.5 percent, is
\nbetween Amber Investments Holdings Ltd, owned by Kotjo, as the
\nbuyer, and Hartaban Holdings Sdn Bhd as the seller.<\/p>\n
The Branburgh option is subject to approval by Muda
\nshareholders, which is an Indonesian-registered company.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ri-investors-bid-for-upp-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
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