May 23, 2011

Indosiar tender offer set at Rp900

Parent company of Surya Citra Television (SCTV), PT Elang Mahkota Teknologi Tbk (Emtek) has determined a tender offer price for the remaining shares of PT Indosiar Karya Media Tbk (IDKM), an acquisition target company, at Rp900 per share. 
The price is the lowest level of the tender offer which has been set in the range of Rp900-Rp1,400 per share, Kontan daily reported today.
Emtek has provided Rp1.32 trillion cash to buy the entire stake in Indosiar. To buy the stake, Emtek has secured Rp1.5 trillion loan facility from Citibank and Standard Chartered Bank.

Disclosure: No position at the stock mentioned above.

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