Indocement sees Indominco sale closing delayed until end of February

The closing of sale of 35 shares of East Kalimantan based coal-mining firm PT. Indominco Mandiri from cement maker giant Indocement Tunggal Prakarsa to Centralink Wisesa International is delayed for one month until the end of this month pending approval from Indominco?s creditors, Bisnis Indonesia reported Monday.

Indocement and Centralink Wisesa signed share sale and purchase agreement, in which the former would sell its 35 percent shares in Indominco to the latter for US$ 10.5 million. Centralink is a company associated with Thai?s energy conglomerate Banpu Plc., which already hold 65 percent interest in Indominco.

Indominco produces some 3.5 million tons of coal annually. (*)