Holdiko sells granite shares

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)