Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Home Bali Contact Bali Practicalities Bali News Bali Services Bali Transportation Bali Sports Bali Excursions Bali Villas Bali Hotels
Home · News · Rajawali Group Courting Garuda Indonesia?
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Bali Hotels
Bali Villas
Special Deals!
Packages
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Diving
Golf
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
Home
 
Bali Update
Subscribe to our free weekly newsletter!
 
PATA header
PATA Gold Award 2007
Bali Update
PATA Gold Award Winner 2007
 
Bali Contact
Bali Discovery Tours
Komplek Pertokoan
Sanur Raya No. 27
Jl. By Pass Ngurah Rai,
Sanur, Bali, Indonesia

Tel:
++62 361 286 283

Fax:
++62 361 286 284

U.S.A. Fax:(toll free)
1-800-506-8633

U.K. Fax:
++44-20-7000-1235

Australian Fax:
++61-2-94750419

24h:
++62 812 3819724

Bali Discovery

SITE PATA ASITA
Bali News

Rajawali Group Courting Garuda Indonesia?

Is PT Rajawali - Indonesia's Large and Diversified Conglomerate Looking to Add an Airline to its Business Portfolio?


Bali News:
Click Image to Enlarge

(1/14/2007)

Indonesia's large Rajawali Group - a conglomerate owned by Indonesian businessman Peter Sondakh, is reported to be considering purchasing shares in the national airline Garuda Indonesia as part of the current restructuring being pursued by the financially crippled state-owned air carrier.

In a report carried in the Indonesian-language Bisnis Indonesia, the Managing Director and Chief Business Development Officer of PT Rajawali, Darjoto Setyawan, said: "We have not been given the chance to have a detailed look at Garuda, which would allow us to (then) state our intentions. In principle, if the conditions are conducive, we would certainly use the opportunity to join in Garuda ... just wait for more news over the coming few days."

Setyawan told the press that no formal meetings have yet been held with Garuda or the Ministry of State-Owned Enterprises (BUMN). He also denied rumors that Rajawali was forming an alliance with the Texas Pacific Group to purchase a share of the Airline.

The BUMN is thought to be targeting a share-sale worth US$300 million in order to secure funds necessary for Garuda's business expansion. No specific share block has been mentioned in connection with the proposed sell-off, but observers suggest that no more than 49% of the State-owned Airline's shares are potentially on offer from the Indonesian Government.

The Rajawali Group

According to Bisnis Indonesia, The Rajawali group is one of Indonesia's largest corporations owning shares in the Indonesian cement producer PT Semen Gresik (24.9%); cigarette-maker PT Bentoel International (40.77%); telecommunications company PT Excelcomindo Pratama (15.96%); PT Metropolitan Retailmart, the owners of Metro Department Stores; PT Karya Agung Kisma Lestari, owners of the Sheraton Laguna, Nusa Dua hotel; PT Express Transindo Utama; and the Guardian pharmacy chain.

Garuda: Mum's the Word

Garuda's top officials are refusing to comment on reports of Rajawali's interest in their company, saying any statement would be premature and that the final decision on new investors rests with the specially appointed restructuring team appointed to financially rescue the Airline.

Garuda has reportedly begun preparations that would allow an initial public offering (IPO) of 37.5% of the shares held in its ground handling subsidiary PT Gapura Angkasa.

Other Garuda subsidiaries said to be candidates for future IPOs include their hotel and airline catering division PT Aerowisata; the distribution and reservation system of the Airline PT Abacus Distribution; and Aero Asia, Garuda’s aircraft maintenance facility.


© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to http://www.balidiscovery.com.

       

 
Bali News by Bali Update
Subscribe to the Bali Update
Receive the latest news from Bali by email!



Our [Privacy Statement] explains how we handle the data you are providing.

 
Bali News by Bali Update
Explore the Archive of the Bali Update
Find related articles in our news archive!




or try to use Google Search :

Home · Bali Hotels · Bali Villas · Bali Excursions · Bali Sports · Bali News · Site Map · RSS

Bali News: More News
Not Running in Fear
Anindya Bakrie: Herbalife Bali International Triathlon Shows the World that Bali Remains Safe for Holidays
(10/15/2017)
A Triathlon for the Soul
Herbalife Bali International Triathlon Attracts Record Numbers and Record Times
(10/15/2017)
Stay Calm and Look at the Facts
Bali Tourism Board Chairman: Foreign Consuls Asked to Be Moderate and Fair in Assessing and Communicating Safety in Bali.
(10/15/2017)
A Mountain of Debt
Financial Service Authority (OJK) Seeking to Ease Debt Burden of Company’s Affected by Mount Agung Alert Status
(10/15/2017)
Too Many? Too Late?
PHRI Chairman Says Badung Regency Taking Measures to Limit the Building of New Hotel Accommodation
(10/15/2017)
A Bookable Event
Shaping Up to be The Best Ever: 14th Ubud Writers and Readers Festival October 25-29, 2017
(10/15/2017)
Why Bali Remains Safe
98% of Bali Landmass Outside of ‘Danger Zone’ of Any Potential Mount Agung Eruption
(10/15/2017)
Artotel on the March
Artotel Indonesia Group Blossoms and Transforms with Opening of the Artotel Beach Club And Artotel Haniman-Ubud
(10/15/2017)
Fine Mexican Dining on the Peninsula
Banyan Tree Ungasan, Bali Presents a Mexican Wine Dinner with Chef José Manuel Morales October 24-27, 2017
(10/15/2017)
Commemorating Unspeakable Tragedy
Bali Governor Urges Forgiveness on the 15th Anniversary of Bali Bombings
(10/15/2017)
Revealing Victoria’s Secrets
Garuda Indonesia to Fly Eight Times a Week From Bali to Melbourne
(10/15/2017)
A Batu Belig Bái Bái
Chinese Female Tourist Commits Suicide in Kerobokan Road Side Shed
(10/15/2017)
All [News]!