Telkom officially buys out Pramindo<\/p>\n
JAKARTA: State-owned telecommunications company Telkom has
\nofficially acquired its Sumatran Regional Division I operational
\npartner, PT Pramindo Ikat Nusantara (Pramindo).<\/p>\n
The buyout came into effect on Monday after Telkom fulfilled
\nthe payment of its call option for promissory notes the company
\nhad issued for the buyout, as stipulated in an acquisition
\nagreement signed last August between Telkom's management and
\nPramindo's shareholders, Telkom said in a statement.<\/p>\n
Previously, Telkom announced that it would finance the call
\noption using a short-term loan worth US$129.6 million from FAMRO
\nBank N.V. Jakarta (ABN-AMRO).<\/p>\n
The company will repay the loan and its interest through a 10
\npayments from March 31 to Dec. 31.<\/p>\n
The acquisition of Pramindo will give Telkom a business and
\nfinancial gain, as the company now has full control over the
\noperation and development of the Sumatran Regional Division I and
\nits customers, Telkom said. --JP<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/telkom-officially-buys-out-pramindo-1447893297",
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"sponsor": "Okusi Associates",
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