Jul 6, 2011

Chairul buys detik.com at US$60 mio

Indonesian mogul Chairul Tanjung, that controls CT Corporation, has agreed to acquire 100% shareholding of PT Agranet Multicitra Siberkom, owner of Indonesia's top stellar news portal detik.com, at the consideration price of US$60 million.
A source as quoted by Bisnis.com today, said Chairul Tanjang onced offered US$30 million for the whole stake in detik.com. But, detik.com founder and owner Budiono Darsono rejected the offer. 
"Initially, Chairul Tanjung offered US$30 million. But, it was rejected by the owner. In the last 3 weeks, the price has been raisen to US$60 million and they proceed the deal," the source said.  
Budiono said Chairul Tanjung has been in the prolonged talks for 2 years before reaching the agreement. "Talks finally ended in 4 days after we agree the price," he said.
Budiono declined to mention the exact acquisition price. According to him, besides CT Corp, there were three or four potential investors mentioned their interest to buy detik.com.

Disclosure: No position at the stock mentioned above.

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