Company Visit "BIPI" TP 450 | Key Take Away

Company Visit "BIPI" TP 450
 
Key Take Away :
 
The integrated oil and gas company PT Benakat Petroleum Energy Tbk will use proceeds of warrant I issuance at IDR942.50 billion for business expansion.When asked whether the warrant proceeds will be channeled to acquire Astrindo, Benakat Non-affiliated Director Firlie Hanggodo Ganinduto refused to comment.
Astrindo is a coal-mining infrastructure service provider, previously owned by PT Indokreasi Nuansa Sejahtera ( Lippo)

PT Benakat Petroleum Energy Tbk (BIPI) has decided to complete the acquisition of 100% shares of PT Astrindo Mahakarya Indonesia later this year. The acquisition transaction value reached USD 600 million.
Benakat Petroleum Director Firlie Ganinduto said, the company would consolidate Astrindo Mahakarya into the company's next year financial statements. Funding of the acquisition would be derived from the company's internal cash, bank loans, and proceeds from the issuance of series I warrants conducted in conjunction with the company's IPO in February, 2010.

Benakat Petroleum, which is an oil and gas company, will take over 100% of Astrindo Mahakarya, a coal mining infrastructure company, from PT Indokreasi Nuansa Sejahtera. Benakat Petroleum has appointed PT Danatama Makmur as financial advisor in the acquisition process.

We believe BIPI will successful on this purchases.We will review for possible to up-grade with the  TP 450.


By : Listri Valsa
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