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Soekarno-Hatta to be offered to foreign investors JAKARTA - The president director of PT Angkasa Pura II, Edie Haryoto, disclosed on Tuesday that the state-owned company operating Jakarta's Soekarno-Hatta International Airport would be sold to foreign investors. "At the initial stage, foreign investors will only be entitled to buy 10 percent to 15 percent of the shares. But if evaluations to be done every three years show that the investor's presence improves the company's performance, it will be allowed to hold up to 39 percent of the shares," Edie said, as quoted by the Antara news agency.
Speaking to the press on the sidelines of a function to observe the company's 18th anniversary, Edie said he had already proposed the concept to the Minister of State-owned Enterprises, adding the plan was part of preparations to privatize the airport.Other preparations included spinning off the airport from PT Angkasa Pura II to make it a subsidiary company, appointing local as well as international financial advisors and arranging the bid for it which is expected to finish this month, he said. Among the financial advisors appointed were PT Bahana Sekuritas and Credit Suisse First Boston.
"So what we are going to sell are the airport's prospects in the next 30 years while the assets remain ours," Edie said. He added that after the winning investor had bought a total 39 percent of PT Angkasa Pura II's shares, 10 percent of the equity would be offered to the general public.



Posted in Economy @ 13 August 2002 00:01 CET by Jeroen · 'Blog' RSS feed · permalink






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