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