Tuesday, January 10, 2012
Cathay Pacific Denies Interest in Buying Garuda
Bloomberg reported that Cathay Pacific Airways Ltd. denied a Bisnis Indonesia report that it was interested in buying a stake in PT Garuda Indonesia (GIAA.IJ).
Earlier, Bisnis Indonesia reported that Cathay Pacific Airways, an airline company from Hongkong, and Delta Air Lines, an airline company from USA, are being in negotiation to acquire 10.88% stake in Garuda Indonesia, owned by Garuda’s underwriters (Bahana Securities, Mandiri Sekuritas, and Danareksa Sekuritas). The investors have appointed Nikko Securities Indonesia as financial advisor related to acquisition. It is reported they offer price of Rp500 per share for acquisition, below Garuda’s IPO price of Rp750 per share.
Earlier, Bisnis Indonesia reported that Cathay Pacific Airways, an airline company from Hongkong, and Delta Air Lines, an airline company from USA, are being in negotiation to acquire 10.88% stake in Garuda Indonesia, owned by Garuda’s underwriters (Bahana Securities, Mandiri Sekuritas, and Danareksa Sekuritas). The investors have appointed Nikko Securities Indonesia as financial advisor related to acquisition. It is reported they offer price of Rp500 per share for acquisition, below Garuda’s IPO price of Rp750 per share.
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