Mitra Rajasa confirms plan to acquire Apexindo
Wednesday, May 7 2008 - 05:59 AM WIB
IDX-listed oil, gas services company PT.Mitra Rajasa confirmed that it was in talks with to acquire 80.6 percent shares of another IDX-listed drilling firm PT.Apexindo Pratama Duta.
The company said negotiation had been held with PT.Medco Energi internasional Tbk and Encore International Limited which had 48.9 percent shares and 31.7 percent shares, respectively, in Apexindo.
Apexindo currently operates 8 land rigs and 6 offshore rigs.(denny)