Release: PT Indika Energy Tbk : Indika Energy Completes Acquisition of Petrosea
Monday, July 6 2009 - 01:42 PM WIB
It now owns 81.95 percent stake in Petrosea. The close of this transaction now enables Indika Energy to leverage Petrosea?s capabilities in engineering construction, mine operation and offshore logistics, to strengthen its foothold in the energy sector in the areas of resource, services and infrastructure.
At the same time, Indika Energy?s strong financials fundamental and market leadership will provide Petrosea with a stronger position to realise its growth target and create satisfactory return on equity.
?The immediate next steps for us is for the two management teams to map out our growth plans based on our strategic intent. We will draw on each other?s strengths, capabilities and expertise to grow, as well as conduct a gap analysis to identify and close the gaps of our weaker areas to strengthen our positions,? said Mr. Arsjad Rasjid, President Director of Indika Energy.
This acquisition was approved in June by Indika Energy?s shareholders and regulators. Indika Energy will make the mandatory tender offer for shares held by minority shareholders pursuant to the prevailing laws and regulations.(End Of Release)