Benakat obtains loan to finance acquisition
Monday, September 10 2012 - 01:30 AM WIB
Oil and gas firm PT Benakat Petroleum Energy has secured loan committment to partly finance the acquisition of mining service company PT Astrindo Mahakarya Indonesia as quoted by The Jakarta Post.
Benakat Director Firlie Ganindito said that a syndication of domestic and foreign banks have agreed to provide the loans, but the company has yet to decide on the size of loan to be raised.
Benakat announced late last year that it had reached agreement to acquire 99.99 percent stake in Astrindo from PT Indokreasi Nusantara Sejahtera in a deal worth US$600 million. The company hopes to be able to conclude the transaction by end of September. (*)