Dec 30, 2010

Bhakti bags Rp510 bio from CMNP sale

Slow but sure, holding investment PT Bhakti Investama Tbk (BHIT) disposes its shareholding in toll road operator PT Citra Marga Nusaphala Persada Tbk (CMNP) on December 27 2010.
After selling its stakes in Citra Marga into the market, Bhakti, controlled by Indonesian tycoon Hary Tenoesoedibjo, today announced a 12.16% stake or 243.17 million shares disposal in Citra Marga at Rp2,100 per share, enabling Bhakti to bag Rp510.66 billion cash.
Bhakti Director Darma Putra, in a public statement to Indonesia Stock Exchange, (IDX) said the company sold Citra Marga as it required to adjust portfolio. He didn't declare who is buyer for the bulk of Citra Marga stake. Post disposal, Bhakti's shareholding shrinks to 3.6%.   
Previously, Hary Tenoe revealed that Bhakti is no intention to put Citra Marga for sale, despite his 'battle' with another shareholder, Siti Hardiyanti Rukmana known as Mbak Tutut, daughter of former President Soeharto, regarding to shares holding in television company TPI (now changed to MNC TV). In the management of Citra Marga, Hary Tenoe is unable to put his men. Harry Tanoe is unreachable for further comment relation to the proposed shares sale.

Disclosure: No position at the stock mentioned above.  

Print This Article

No comments: