Jul 14, 2010

Antam to buy 20% Mega Citra Utama

One of Indonesia's largest nickel miner PT Aneka Tambang Tbk (Antam) plans to acquire 20% stakes in bauxite mining company PT Mega Citra Utama. But, Antam and Mega Citra Utama haven't disclose the acquisition value.
Besides an acquisition plan of Mega Citra Utama, in 2009, Antam also increased its investments in shares of stock by 66% to Rp92.6 billion consisting of PT Indonesia Chemical Alumina (Tayan Chemical Grade Alumina Project), PT Meratus Jaya Iron Steel (sponge iron project in South Kalimantan with PT Krakatau Steel), PT Antam Jindal Stainless Indonesia (integrated stainless steel project in Southeast Sulawesi with JIndal Stainless),  and PT Borneo Edo International (bauxite). 

Disclosure: No position at the stock mentioned above.

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