Medco shortlists potential buyers of Apexindo

JSX listed energy firm PT Medco Energi Internasional Tbk has shortlisted from 50 to five potential buyers of its all 51.38 percent shares in JSX-listed drilling firm PT Apexindo Pratama Duta Tbk, Kontan Daily reported on Thursday.

However, the company refuses to name the five companies. “The short list is confidential. We would not announce it,” said Medco’s President Director Hilmi Panigoro in Jakarta on Wednesday.

Rizal Gozali, the Managing Director of Credit Suisse Securities Indonesia which is appointed as arranger of the transaction, also refused to name the potential buyers.

Medco earier said there were 50 companies interested to buy the stake.

Some repots said the 50 companies include  four foreign investment firms and three local firms. The foreign companies include three from the USA, that is Texas Pacific Group (TPG), Carlile Investment, CVC Investment Group and one from Britain, 3i Investment Group. The local bidders include PT Nusantara Infrastructure Tbk, an affiliate of Bosowa Group controlled by Aksa Mahmud. The two other local firms are an investment firm and a coal mining firm owned by a young entrepreneur, according to Industrial sources.

Medco is offering its entire stake in Apexindo as part of its plan to focus on upstream oil and gas operation. (*)