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Article: BAT BUYS 85 PCT OF INDONESIAN CIGARETTE CO BENTOEL'S SHARES.
- Article from:
- AsiaPulse News
- Article date:
- June 18, 2009
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JAKARTA, June 18 Asia Pulse - British American Tobacco Plc (BAT) has bought a 85 per cent stake in PT Bentoel Internasional Investama Tbk (JSX:RMBA) from PT Rajawali Corpora for US$494 million, a spokesman said.
The director of BAT Asia-Pacific, John Daly, said here on Wednesday the price was equal to Rp873 (US$0.09) per share with a premium of 20 percent above the closing price of Rp730 per share on June 15, 2009.
"The tender offer for the remaining shares held by the public will be announced soon and hopefully could be settled by the end of August 2009," he said.
Based on assumptions that all the shares would be bought through the bidding ...