Bakrie consolidation

Bakrie consolidation

JAKARTA (JP): Shareholders of publicly-listed PT Bakrie
Finance Corporation agreed yesterday to the company's plan to
acquire PT Bakrie Capitanindo Corporation's 15 percent stake in
the company worth Rp 2.25 billion (US$988,000).

The company said in a statement that yesterday's shareholders
meeting also agreed to the company's plan to issue 118.79 million
rights shares with a par value of Rp 1,000.

It said the rights shares will be offered at Rp 1,600 each.

At yesterday's meeting, the company's president, Mustafa I.
Jatim, reported that the company plans to form a securities firm
jointly with Solomon Brothers, which will take a 60 percent stake
in the venture company. (rid)