New Links to make tender offer for Medco: Report
Thursday, February 28 2002 - 12:14 PM WIB
New Links Energy, 40 percent owned by Thailand's PTT Exploration and Production (PTTEP), plans to make a tender offer for Indonesia's Medco Energi in March, PTTEP said on Thursday.
New Links, which already owns 85.44 percent of Medco, would make a tender offer for the rest of the Indonesian firm at US$0.15 per share, PTTEP Vice President Tevin Vongvanich told Reuters.
But Tevin said New Links was likely to end up buying only around half of Medco's remaining shares because many investors wanted to hold on to them. (*)