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Debts

Bartering BB Away

Tuesday, September 25, 2001

A consortium of creditors owns 95 percent of Bakrie Brothers shares. The Bakrie family owns a mere 1.03 percent. There's still an option to resell.

arsip tempo : 173169196644.

. tempo : 173169196644.

The long and tiring negotiations are finally over. They started in 1997 and have produced a result. More than 130 creditors agreed on restructuring Bakrie Brothers' (BB) US$1,086-billion debt. The document has been signed and becomes effective on November 28, 2001.

The patterns agreed upon are debt-to-equity and debt-to-assets swaps. Consequently, the consortium of creditors own 95 percent of the shares as well as four BB assets—PT Bakri

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