Mitra to divest part of stake at Apexindo

IDX-listed PT Mitra International Resources may sell part of its stake at drilling rig provider PT Apexindo Pratama Duta next year to repay debts, a company official was quoted by media as saying.

Director Inu Koentjaraningrat did not give detail about the percentage of shares the company planned to sell, but indicated that the company wanted to see debts level at around US$350 million from $860 million currently.

Mitra acquired 98 percent shares of Apexindo in 2008 through mobilization of US$500 million loan. (*)