Indika Energy take over 81,95% Petrosea share for 83,8 million USD

Indonesia Stock Exchange (IDX) confirms there was third party divulged acquisition of Petrosea. Although it would be hard to prove which one was doing it because both investors and transaction actors had they own interest. This rumor gives 130% of Petrosea share in market from Rp.4275 become Rp.9850 on closing this afternoon.

Previously on February 17, IDX suspended Indika Energy and Petrosea transaction on stock market because of the acquisition rumor and revoke this action on next day after Indika management had gave explanation about the rumor to IDX. They said Indika and Clough International Singapore are still on negotiation about acquisition matter. At last January 2009, Clough own 80,38% of Petrosea share.

Indika Energy.tbk which was established in 2000 has energy core bussiness in coal mining (Kideco), engineering, procurement, construction (Tripatra), and power plant (Cirebon Electric Power). Kideco has coal contract of work (CCOW) in Pasir area, East Kalimantan with 18.9 Mt coal production in 2006.