Indonesia names companies for BCA divestment

The Indonesian government has selected PT Danareksa Sekuritas and PT Merrill Lynch Indonesia to handle the divestment of its stake in Bank Central Asia.

Reports said the divestment would be made through private placement in January next year.

Jerry Ng, a chairman of the Indonesian Bank Restructuring Agency IBRA, said a number of investors had already indicated interest in buying the shares.

IBRA, a government organization set up to handle to debt of Indonesian banks, already sold part of its shares in BCA to raise funds for the state budget.

IBRA is required to raise Rp18.9 trillion $2.1 billion through the sales of the assets in its control for the 2001 state...

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