Delta Dunia surges 2.05% on CIC takeover

Bisnis.com,27 Des 2010, 05:37 WIB

JAKARTA: Coal mining contractor PT Delta Dunia Makmur Tbk (DOID) today surged 2.05% to Rp1,490 per share, close to the highest level since March 2010 at Rp1,510.The surge is following the announcement of China Investment Corporation (CIC) that joined a consortium of TPG Capital and Government of Singapore Investment Corporation (GIC) to acquire all non-voting interest in Northstar Tambang Persada Ltd (NTP) from Widjaja family (Sinarmas Group) and Bakrie Group.In an official statement to Indonesia Stock Exchange (IDX) yesterday, NTP Director Glenn T. Sugita said following the stake purchase by CIC, the shareholders of NTP are now consisting of Northstar Equity Partners (voting rights' holder), TPG, GIC, and CIC."Northstar Equity continues to retain voting rights and controlling interest in NTP," Sugita said in the statement. CIC is an investment institution established in 2007 as a wholly state-owned company under the Company Law of the Peoples Republic of China.A source close to the deal said in the consortium, TPG Capital holds the majority shareholding of about 80%, while the remaining goes to GIC and CIC with approximately 20% shareholding each. (wiw)

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