Apr 13, 2011

Asia River to buy Duta Graha?

Two foreign private equity dubbed Asia River Advisory and Legg Mason were rumored to propose bid for property developer PT Duta Graha Tbk (DGIK).
As reported by a local media, Singapore-based Asia River is rumored interested to buy Duta Graha as the company has an energy agreement with Australia-based contractor Macmahon.
Duta Graha Corporate Secretary Djohan Halim revealed that Asia River have visited Duta Graha's head quarter to ask financial performance.The total acquisition is estimated to reach Rp250 billion. It depends on negotiation term. 

Disclosure: No position at the stock mentioned above.

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