IBRA evaluating asset bidders

IBRA evaluating asset bidders

JAKARTA: The Indonesian Bank Restructuring Agency (IBRA) has
started to review preliminary bids from investors that were
interested in the assets previously owned by Texmaco Group,
Chandra Asri and Bakrie Nirwana Resort.

In a press release made available to The Jakarta Post, the
agency said the assets totaled Rp 18.6 trillion (US$2.5 billion)
in value.

"Each asset received bids from more than one investor," the
statement said, without naming the bidders.

After going through stages, the winning investors will be
obliged to make the first payment -- as much as 30 percent of the
asset value by July 15. The remaining 70 percent has to be fully
paid no later than July 20, it said.

All transactions will be wrapped up on July 24. -- JP