Four investors shortlisted to buy 100% stake in BP?s PT Peni

Four investors have been shortlisted to acquire 100 percent ownership in Petrokimia Nusantara Interindo (Peni), a local petrochemical plant controlled by Anglo-American energy giant BP, Bisnis Indonesia daily quoted an industry source as saying on Monday.

The four investors were PT Lautan Luas of the Salim Group, PT Bhakti Asset management of the Bimantara Group, PT Andhika which is controlled by businessman Sudwikatmono, and businessman Gunadharma, founder of the Tirtamas Group, said the source who asked for anonymity.

The four were among the seven investors bidding to buy the 100 percent stake in Peni. The other three were businessman Johannes Kotjo who controls Bank Victoria, Resources Management Indonesia, and Mahanusa Kapital, according to Bisnis Indonesia.

Earlier reports said that also bidding to buy Peni shares included Salim Group, Bimantara Group and Medco group.

Peni president director Robert M. Genovese declined to confirm the names of the shortlisted bidders.

?We hope that the tender will be completed in the first semester of 2003,? Genovese said.

Gunadharma, who is also chairman of Indonesia Issuers Association, said he had not yet got any information about the latest development of Peni share tender.

Peni is the country?s largest producer of polyethylene with annual production capacity of 450,000 tons.

The company is 75 percent owned by BP, with the remaining shares going to Mitsui and Sumitomo. (*)