Holdiko sells granite shares

JAKARTA (JP): PT Holdiko Perkasa has sold 17.25 percent of its shares in granite mining producer PT Karimun Granite to PT Pendawa Sempurna for Rp 21.62 billion (US$2.7 million).

The Indonesian Bank Restructuring Agency (IBRA) and Holdiko said in a statement that Pendawa won the shares through competitive bidding involving 36 investors mostly from Singapore, Malaysia and Indonesia.

"The bid submitted by PT Pendawa Sempurna was the highest we received. We treated all potential investors equally and chose the bidder who submitted the best offer." IBRA's asset disposal division head Dasa Sutantio said.

Holdiko was established following an agreement between Salim Group and IBRA to settle debts extended by bank BCA to companies affiliated to the Salim Group.

The Salim Group transferred shares and assets in more than 100 operating companies to Holdiko. (cst)