PT Benakat Petroleum Tbk targets to finish the purchase of the remaining 12.55 percent shares of PT Elnusa Tbk through PT Tridaya Esta this week following the completion of administrative works which so far blocked the process.
"The finalization (of Elnusa shares acquisition) through Tridaya is likely be early next week (this week). All constraints of the finalization has been settled," said Corporate Secretary of Be-nakat Ferdinand Dion to Bisnis last week.
Formerly, Benakat agreed to issue the statement of finalizing the acquisition of Elnusa June 12, 2010. But due to the incompletion of administrative requirement, Benakat and Tridaya agreed to delayed the acquisition finalization up to July 12, 2010 at maximum.
Benakat alone has acquired 24.6 percent of Elnusa through Tridaya March 12, 2010 withIDR592.5 billion funds. The total acquisition of 37.15 percent of Elnusa stocks was IDR894.82 billion with a par value of IDR330.
Ferdinand said in quarter I/2010 the company booked IDR100 billion revenues and IDR20 billion net profits. At the same period last year, Benakat suffered from IDR49.21 billion net losses with IDR29.53 billion sales.
The revenue in quarter I/2010 consisted of IDR21.18 billion oil revenue, IDR5.35 billion expertise fee, IDR1.57 billion construction service, and IDR1.43 billion engineering service. In quarter I/2009, the company tapped income from miscellaneous revenues. (Bisnis/10)
http://www.bisnis.com/pls/bisnis/bisnis.cetak?inw_id=741845
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