VIVAnews - Energy company PT Indika Energy Tbk is preparing US$18 million of fund to hold a tender offer for PT Petrosea Tbk (PTRO) public shares which is planned to take place in the third quarter of 2009.
Indika Energy President Director M Arsjad Rasjid said on Monday, May 11, the acquisition of 100 percent of Indika shares reaches approximately US$102 million. Meanwhile, the takeover of 81.95 percent of Petrosea shares reaches US$83.8 million. As a result, the tender offer will require US$18 million.
He then said that the company's cash will be around US$250 and US$300 million after the acquisition process completes.
The company will propose dividend payout by more than 25 percent of the 2008 net profit.
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Translasted by: Bonardo Maulana Wahono
