Dian Swastatika Sentosa, an Indonesian energy and infrastructure group, will own a 15.4% stake in local mobile operator Smartfren in five years time, according to the Jakarta Post.
The energy group has reportedly bought some Smartfren bonds worth…
Dian Swastatika Sentosa, an Indonesian energy and infrastructure group, will own a 15.4% stake in local mobile operator Smartfren in five years time, according to the Jakarta Post.
The energy group has reportedly bought some Smartfren bonds worth Rp1trn (US$109m). By 2017, these bonds will be converted into equity.
This bond purchase will be financed with the proceeds from the sale of Dian Swastatika’s Golden Energy Mines unit, according to the paper.
OSK Nusadana Securities has reportedly been hired as selling agent on the deal.
Dian Swastatika and Smartfren are both majority-owned by Indonesian conglomerate Sinar Mas Group.
