Next phase of Indonesian sales moves slowly

Article Abstract:

Indonesia continues to experience economic instability, but its privatization programme is progressing gradually. The government has stated that it will consider selling a majority stake in PT Indosat if it receives an attractive offer, and more than 10 expressions of interest have been received from international investors wishing to purchase a stake in plantation concern PT Perkebunan Nusantara IV. It is also thought that port concern Pelabuhan Indonesia II will be put up for sale soon.

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Indonesia announces new Semen Gresik deal

Article Abstract:

Cemex of Mexico is to take a 14% stake in Indonesian concern Semen Gresik. There will also be the opportunity for Cemex to purchase a further 6% through a public tender offer. Indonesia also plans to privatize plantation concern PT Perkebunan Nusantara and port concern PT Pelabuhan Indonesia II. Other plans, including the privatization of PT Indosat, PT Telkom and PT Krakatau Steel, will be delayed until the beginning of the new fiscal year in Mar 1999.

Investments, Securities, Cemex S.A. de C.V., Semen Gresik Perusahaan Terbatas Persero

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