Hong Kong CSFB offers stake in Medco to Panigoro, PTTEP
Monday, January 13 2003 - 07:30 AM WIB
Credit Suisse First Boston (Hong Kong) Limited (CSFB) had offered its 16 percent indirect stake in PT Medco Energi International Tbk to the Panigoro family and PTTEP Offshore Investment Company Ltd of Thailand, Bisnis Indonesia daily reported on Monday.
Medco is 86 percent owned by Mauritius-based New Links Energy Resources Ltd. CSFB owns 19 percent ownership in New Links, while the Panigoro family and PTTEP respectively own 40.1 percent and 40 percent.
?CSFB?s stakes in New Links has been offered to the other two shareholders,? Medco?s finance director Sugiharto was quoted as saying over the weekend.
Sugiharto said that CSFB would sell its stakes to other strategic investors if the Panigoro family and PTTEP were not interested in it.
Medco?s chief executive Hilmi Panigoro said earlier that CSFB would gradually divest its stake in New Links until 2004. (*)