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Barito sets aside $700-800M to acquire Star Energy

JAKARTA (RambuEnergy) – PT Barito Pacific Tbk (IDX: BRPT), a diversified group found by tycoon Prajogo Pangestu, said it will set aside US$700-800 million to acquire affiliate company Star Energy. The company expects to realize the acquisition in the first quarter of 2018.

President Director of Barito Pacific Agus Salim Pangestu said the company mulls three options to raise funds to finance the acquisiton, namely  issuing bonds, launching rights issue, or combination of both.

The move is to be undertaken after the company completed the purchase 4.998% stakes of PT Darajat Geothermal Indonesia from PT Austindo Nusantara Jaya Tbk US$1.5 million on Sept 27, 2016.

At the same time,  Barito also bought 5% stakes in PT Star Energy Geothermal Suoh Sekincau from Austindo for US$325,000. (*)

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