Former intelligence chief will take over KPC shares
Tuesday, September 11 2001 - 01:49 AM WIB
Moetojib, the chief commissioner of PT Intan Bumi Inti Persada, said in Jakarta on Monday that his company had been accepted as the East Kalimantan administration?s partner due to its readiness to give 10 percent of the shares to the local people for free.
In addition, the local government would also be given an option to buy the remaining shares after PT Intan Bumi was able recover its investment, said Moetojib, who headed Bakin during former president Habibie?s administration.
About David, Moetajib, said the man had nothing to do with Liem Sieo Liong. According to him David would have the responsibility to seek funding from overseas to finance the acquisition. But he denied the speculation that the funding would come from international financier George Soros.
East Kalimanan administration?s lawyer PDD Dermawan denied the involvement of David in the planned acquisition of KPC shares.
As part of the mandatory divestment program, KPC, which is jointly owned by international mining giants Rio Tinto of Australia and BP Plc of Britain, is requested to divest up to 51 percent of its shares this year.
The East Kalimantan has offered to take over the 51 shares at US$319 million, based on the asset valuation made in 1999. The two mining giants offered a price tag of $449 million. (*)