ing-continues-to-lead-the-way-in-indonesian-privatisations

ING continues to lead the way in Indonesian privatisations

The bank advises Blue Sphere Singapore on the full purchase of Jakarta's publicly listed pharmaceutical company Darya-Varia Laboratoria.

By Lara Wozniak

October 30, 2006

ING is continuing to lead the way in privatisations in Indonesia by advising on the delisting of Jakarta's publicly-listed pharmaceutical company Darya-Varia Laboratoria.

Blue Sphere Singapore, which already controls 92.7% of the company, plans to bid for the remaining 7.3% stake at Rp2,200 $0.24 per share, pending approval from Darya VariaÆs shareholders at a meeting set to be held on November 21, 2006 in Jakarta. If shareholders agree to the privatisation proposal, Blue Sphere will make a tender offer and delist the company from the Jakarta Stock Exchange.

The offer price is more than a 40% premium to the highest traded price of the shares. In addition, it also represents a substantial 77% premium to...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222