SOE Ministry: 51 Percent of Freeport Stake Not Funded by SOE Bank
16 July 2018 10:36 WIB
TEMPO.CO, Jakarta - Gatot Trihargo, the Deputy for Financial Services, Surveying Services and Consultation Services of the Ministry of State-Owned Enterprises (SOEs), said no SOE bank funded the state-owned mining Industry Indonesia Asahan Alumunium (Inalum) to buy 51 percent stake of PT Freeport Indonesia (PTFI).
“None,” said Gatot on early Sunday, July 16, at Gelora Bung Karno, Jakarta, when asked whether any SOE Bank help to buy Freeport stake.
Gatot said at least 11 foreign banks were ready to fund the takeover of Freeport shares. However, he remained non-committal to further detail the banks.
On July 12, Inalum president director Budi Gunawan Sadikin said 11 banks were ready to help Inalum buy the shares. He said the statement after the signing of a Heads of Agreement for the share divestment between Inalum and PTFI's parent company Freeport-McMoran Inc. (FCX) and participating interest (PI) rights from Rio Tinto at PTFI.
Budi Gunawan Sadikin mentioned the total value was US$3.85 billion. Inalum would allocate US$35 billion to buy 40 percent of participating interest (PI) rights from Rio Tinto at Freeport.
MUHAMMAD HENDARTYO
