Mitra Rajasa to sell Apexindo
Wednesday, February 4 2009 - 02:52 AM WIB
IDX-listed oil, gas services company PT Mitra Rajasa Tbk said on Tuesday that it decided to sell up to 49% of its shares in drilling firm PT Apexindo Pratama Duta Tbk to repay the corporate debts worth US$630 million and finance business expansion.
"We are exploring opportunities sell 20% - 49% of the shares of Apexindo so that the company continues to become majority shareholder," said Rajasa Beni Prananto, President Director of PT Mitra Rajasa.
In June last year, Mitra Rajasa Tbk has signed Rp.5.19 trillion ( US$558 million ) deal to acquire 80.57 percent shares of PT.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 which consist of four submersible swamp barge rig: Maera, Raisis, Raissa and Yani; and two jack-up Raniworo and Soehanah. (*)