Indian firm's offer to buy Apexindo shares not attractive: Medco
Monday, May 22 2006 - 01:49 AM WIB
PT Medco Energi Internasional has acknowledged that the company has received an offer from Indian company Aban Loyd Chiles Offshore Ltd to buy its 51.97 percent stake in drilling company PT Apexindo Pratama Duta.
But Medco's corporate secretary Andy Karamoy said that the company had not given any response to the Indian company because its offer was not attractive enough to deal with.
"We have not given any response so far, as the offer is not attractive enough," Andy was quoted as saying by Koran Tempo daily.
As reported recently, the executive of the Indian company had expressed the company's interest to acquire Medco's stake in PT Apexindo which provides drilling services for offshore oil and gas fields.(*)