Mexican Standoff - Economy - magz.tempo.co

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Semen Gresik

Mexican Standoff

Tuesday, May 30, 2006

Cemex has rejected the governments offer. The Farallon Group and Aksa Mahmud have also entered the arena.

. tempo : 173176870872.

THE fiery commotion between the government and Cemex SA de CV appears to be heating up again. Following the governments support for the plan to sell Cemexs 24.9 percent share in PT Semen Gresik Tbk to the Rajawali Group, last week this giant cement producer from Mexico rejected the governments proposal.

This rejection was conveyed by Hector Medina, a Director of Cemex Asia Holdings. In a letter dated May 23 to Sugiharto, the State Minister for St

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