PT Antam seeks advice on Freeport

The state-owned company appoints HSBC to give advice on the acquisition of a minority stake in Freeport Indonesia.

Indonesian state-owned mining company PT Antam Tbk announced yesterday that it had selected HSBC as its financial advisor for the potential acquisition of a minority stake in PT Freeport Indonesia, which owns and operates the Grasberg gold and copper mine in Papua.

Antam is considering acquiring the government's 9.36% stake in Freeport Indonesia, which some analysts say is valued at $700 million. HSBC was selected from five short-listed candidates, which had included CLSA, Citigroup, BNP...

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