ID :
71745
Thu, 07/23/2009 - 14:56
Auther :
Shortlink :
https://www.oananews.org//node/71745
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GOVT HOLDING INTERNAL TALKS ON NEWMONT
Jakarta, July 23 (ANTARA) - The government is holding an informal discussions with the state enterprises (BUMN) ministry on its right to buy 14 percent of shares of PT Newmont Nusa Tenggara (Newmont)'s divestment.
"Informal talks are going on (between the finance ministry and the BUMN ministry)," State Enterprises Minister Sofyan Djalil said here on Wednesday evening after attending a function on Bisnis Indonesia Award.
According to Sofyan Djalil, the informal talks were aimed at encouraging the government to use the rights to buy shares resulted from the mine company's divestment.
"If the government does not want to buy the shares, we will ask for a chance for BUMN to buy them," he said.
The minister said PT Antam Tbk. is ready to make an offer.
On July 14, 2009, the government and Newmont teams agreed on the price of 100 percent of Newmont's share to calculate the divestment?s shares of 2008 and 2009 amounting to US$3.52 billion.
With the total price value, the price of seven percent of Newmont's shares in 2008 was US$246.4 million and the seven percent of the mining company's shares in 2009 was worth US$246.4 million.
In line with the arbitrage decision, the 2008 divestment share price, including those of 2006 and 2007 should be settled on September 27, 2009 at the latest.
Meanwhile, for the 2009 divestment share price which is not included in the arbitrage decision, in line with the working contract, must be decided by the finance 30 days after the deal on July 14, 2009.
However, the finance minister has not made any decision on whether it would give a mandate to BUMN to buy the shares resulted from PT Newmont's divestment, the BUMN minister said.
Therefore, the BUMN minister said he would again send a letter to the finance minister informing the finance minister that BUMNs are ready to buy the shares.
State enterprises could make an offer individually or by establishing a consortium, Minister Djalil said.
"Fund is not a problem. Basically, BUMN will come in if the price is suitable," he said.
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"Informal talks are going on (between the finance ministry and the BUMN ministry)," State Enterprises Minister Sofyan Djalil said here on Wednesday evening after attending a function on Bisnis Indonesia Award.
According to Sofyan Djalil, the informal talks were aimed at encouraging the government to use the rights to buy shares resulted from the mine company's divestment.
"If the government does not want to buy the shares, we will ask for a chance for BUMN to buy them," he said.
The minister said PT Antam Tbk. is ready to make an offer.
On July 14, 2009, the government and Newmont teams agreed on the price of 100 percent of Newmont's share to calculate the divestment?s shares of 2008 and 2009 amounting to US$3.52 billion.
With the total price value, the price of seven percent of Newmont's shares in 2008 was US$246.4 million and the seven percent of the mining company's shares in 2009 was worth US$246.4 million.
In line with the arbitrage decision, the 2008 divestment share price, including those of 2006 and 2007 should be settled on September 27, 2009 at the latest.
Meanwhile, for the 2009 divestment share price which is not included in the arbitrage decision, in line with the working contract, must be decided by the finance 30 days after the deal on July 14, 2009.
However, the finance minister has not made any decision on whether it would give a mandate to BUMN to buy the shares resulted from PT Newmont's divestment, the BUMN minister said.
Therefore, the BUMN minister said he would again send a letter to the finance minister informing the finance minister that BUMNs are ready to buy the shares.
State enterprises could make an offer individually or by establishing a consortium, Minister Djalil said.
"Fund is not a problem. Basically, BUMN will come in if the price is suitable," he said.
***2***
