Danamon Divestment
An Expensive Eight Minutes
Tuesday, April 15, 2003
Artha Graha is partnering Gudang Garam shareholders in its quest to purchase the government's 51 percent stake in Bank Danamon. Its chances of winning have improved.
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The fight for 51 percent of the government's shares in Bank Danamon Indonesia is heating up. Competition between the three bidders is tighter than ever since Artha Graha is no longer a solo fighter. The banking consortium own by Tomy Winata and the Yayasan Kartika Eka Paksi, a foundation owned by the army, has been successful in attracting Gudang Garam's shareholders. Initially, Artha Graha wanted to hook the largest cigarette maker in Indones
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