Mitra Rajasa in talks with firms to sell share in Apexindo

Publicly listed PT Mitra Rajasa said Monday that it is in talks with four companies to sell its share in IDX-listed drilling firm PT Apexindo Pratama Duta.

Mitra plans to offer 31.4% of its share in Apexindo to new investor.

"We are open to all offers. Our [current] discussions are still at a preliminary stage," newly-appointed president director Tito Sulistio said after a shareholders' extraordinary meeting.

Three of the four companies are based in Europe, he said, but did not disclose any details.

In June last year, Mitra Rajasa Tbk has signed Rp.5.19 trillion (US$558 million ) deal to acquire 80.57 percent shares of Apexindo from oil, gas firm PT. Medco Energi Internasional Tbk and Encore International Pte. Ltd.

Mitra Rajasa, Apexindo and Medco are listed at the Indonesian Stock Exchange.

Apexindo has 8 land rigs and 6 offshore rigs consisting of four submersible swamp barge rig: Maera, Raisis, Raissa and Yani; and two jack-up Raniworo and Soehanah. (*)