Dec 27, 2010

Agis to acquire 3 gold mining companies

Electronic distributor PT Agis Tbk (TMPI) is considering to spend US$150 million or Rp1.3 trillion for business expansion next year. The company will be supported by its shareholder Global Emerging Markers Ltd (GEM).
"We will realize an expansion in the resources and energy sectors as we have been fully underpinned by GEM," said Agis President Director Steven Kesuma as reported by a local media today.
Agis is considering several mining assets such as gold mining companies as acquisition target. Agis has options to acquire majority holding in three gold miners in West Sumatra.
According to him, the gold mining companies are PT Bina Bakti Pertiwi, PT Inti Bumi Sejahtera Mandiri, and PT Datacom Indojaya. Agis and the three companies have entered into exclusive agreements. Steven Kesuma said Agis will sign a loan agreement of Rp325 billion next year with GEM as working capital.
  
Disclosure: No position at the stock mentioned above.  

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