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Tuesday, 07 July 09
INDIKA ENERGY COMPLETES THE ACQUISITION OF PETROSEA
TAMBANG reported that, PT Indika Energy, Tbk has officially announced that it has completed the acquisition of PT Petrosea, Tbk. from Clough International Singapore Pte. Ltd. With an amount of US$83.8 million, Indika Energy has now own 81.95% stake in Petrosea.
In a press release sent to TAMBANG Magazine on 6 July 2009, Indika Energy stated that the close of this transaction would enable it to leverage Petrosea's capabilities in engineering construction, mine operation and offshore logistics. Furthermore, it would strengthen Petrosea's foothold in the energy sector in the areas of resource, services, and infrastructure.
With its strong financials fundamental and market leadership, Indika Energy is confident to provide Petrosea with a stronger position to realise its growth target and create satisfactory return on equity.
Arsjad Rasjid, President Director of Indika Energy, explained the next step they are going to take immediately. "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," he said.
The acquisition of Petrosea has previously gained approval from Indika Energy's shareholders, as well as from the regulators. Furthermore, Indika Energy would make the mandatory tender offer for shares held by minority shareholders, pursuant to the prevailing laws and regulations.
Source: Tambang
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Tuesday, 16 June 09
INDIAN MINING WORKER ARRESTED IN BENGKULU
Forestry officials in Bengkulu Province, Sumatra, arrested one Indian national and two Indonesians on Sunday for unauthorized exploration in the ele ...
Tuesday, 16 June 09
INDIAN GOVERNMENT MAY ALLOW PRIVATE COMPANIES TO MINE COAL
The government is “strongly considering” to allow commercial coal mining by private companies in a bid to bridge the demand-supply gap, ...
Monday, 15 June 09
SAFRICA'S COAL TERMINAL EXPANSION DELAYED TO Q4
South Africa's Richards Bay Coal Terminal (RBCT) said on Monday the completion of a project to expand the export facility had been delayed to the f ...
Monday, 15 June 09
SHENHUA DENIES GIVING GROUND ON EXPORT COAL PRICE - REUTERS
China Shenhua Energy Co, the country's top coal producer, expects Japanese and South Korean clients to pay at least as much as Chinese customers fo ...
Monday, 15 June 09
POWER PLANT SUFFERS FROM COAL CRISIS - THE STATESMAN
The 3,000 mw NTPC-Kaniha power plant, the second biggest in the country, is facing an unprecedented coal crisis with stocks dipping to a low of only ...
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- Bharathi Cement Corporation - India
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- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- VISA Power Limited - India
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- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
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- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- MS Steel International - UAE
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- Electricity Authority, New Zealand
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- Planning Commission, India
- New Zealand Coal & Carbon
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- Maharashtra Electricity Regulatory Commission - India
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- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
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- Wilmar Investment Holdings
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- SMG Consultants - Indonesia
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- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
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- India Bulls Power Limited - India
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- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
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- Indonesian Coal Mining Association
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
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- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
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