VIVAnews - PT Multi Daerah Bersaing (MDB) has officially owned 24 percent of Newmont’s shares. The payment for 7-percent share for the 2009 divestment program has been made on Monday, March 15.
PT Multi Daerah Bersaing is a joint venture between PT Multicapital, the subsidiary of PT Bumi Resources Tbk (Bakrie Group), and PT Daerah Maju Bersaing, a company belonging to West Nusa Tenggara provincial government, West Sumbawa regency government and Sumbawa regency government.
President Director of PT Daerah Maju Bersaing, Andi Hadiyanto said the payment for the US$229.4 million share was made at Newmont’s office in Jakarta.
“It has been completed last Monday,” he said in Mataram today, March 17.
The meeting was attended by Newmont Pacific Nusantara President Director, Martiono Hadianto while PT MDB was represented by Muhammad Shulton and Andi Hadianto.
PT MDB has taken on 17 percent of the gold-and coal-mining company’s shares after paying for 7 percent of 2008 divestment shares that was worth US$246.8 million, on December 11, 2009.
The company will later receive 7 percent of the share for the 2010 divestment. According to Hadiyanto, negotiations on this year’s Newmont Nusa Tenggara will commence from late March to November. Therefore, PT MDB will be able to obtain 31 percent of shares.
The payment for 7 percent of the share is expected to be the same with the previous one. Meanwhile, the company has to deal with two hardest stage of the negotiation, which are price setting and meeting the requirements set by Newmont.
However, MDB is optimistic that the whole process will be done by late 2010. “So, we have invested IDR8.6 trillion worth of share from the beginning of this divestment process, “ Hadiyanto said.
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Coverage by: Edy Gustan I Mataram
Translated by: Nataya Ermanti
