India?s Aban cancels to acquire Apexindo
Monday, January 22 2007 - 12:28 AM WIB
Indian offshore services group Aban Offshore Ltd. said on Friday it had terminated talks to buy a majority stake in Indonesian offshore and onshore drilling contractor PT Apexindo Pratama Duta Tbk. Aban said in statement to Bombay stock exchange.
Apexindo is controlled by Indonesia's largest listed energy company, PT Medco Energi International Tbk .
In July 2006, Aban has made a firm offer to buy 32.15 percent Medco?s stake in PT Apexindo Pratama Duta Tbk for US$550 million (about Rp 5 trillion). (*)