Subject: ADRO
Consortium
To Sell Stake, Buyers Ready
04/27/2009
The
consortium of Goldman Sachs Group Inc., Farallon Capital Management, L.L.C.,
Citigroup, Inc., and tycoon Robert Kuok plan to sell 17% shares or 5.44 billion
shares of PT Adaro Energy Tbk, with a par value at least IDR 1200. An
investment
manager aware of the placement said the stock placement process of the company
is underway. The total of 17% Adaro stock sales is worth IDR 6.53 trillion. The
investment manager said to Bisnis, "The sales of Adaro stakes are predicted to
finish early next year. The seller consortium proposes IDR 1200 price per share
unit." It was reported that buyers from China, India, Japan, Korea, and Europe
have already expressed their interests to buy the firm’s shares. He also said,
"San Miguel Corp is also said to buy the Adaro stakes."
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