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The Tender Trap

Tuesday, July 3, 2001

The government was supposed to have announced the buyer of Bank Central Asia last week, but deferred doing so. Why?

. tempo : 173233710648.

Like a tug-of-war, the bidding for the acquisition of Bank Central Asia is now at its most exciting phase. It's still unclear who will be the successful bidder and new owner of the bank now under the control of IBRA, the Indonesian Bank Restructuring Agency.

IBRA has offered to sell off 40 percent of its BCA shareholding. Felia Salim, deputy in charge of bank restructuring, says 30 percent of the equity is being offered to strategic investors

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