ing-continues-to-lead-the-way-in-indonesian-privatisations

ING continues to lead the way in Indonesian privatisations

The bank advises Blue Sphere Singapore on the full purchase of Jakarta's publicly listed pharmaceutical company Darya-Varia Laboratoria.
ING is continuing to lead the way in privatisations in Indonesia by advising on the delisting of Jakarta's publicly-listed pharmaceutical company Darya-Varia Laboratoria

Blue Sphere Singapore, which already controls 92 7% of the company, plans to bid for the remaining 7 3% stake at Rp2,200 ($0 24) per share, pending approval from Darya VariaÆs shareholders at a meeting set to be held on November 21, 2006 in Jakarta If shareholders agree to the privatisation proposal, Blue Sphere will make a tender offer and delist the company from the Jakarta Stock Exchange

The offer price is more than a 40% premium to the highest traded price of the shares In addition, it also represents a substantial...
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