Weekly Business

Bakrie’s $1 Billion Debt Paid Off

After a long period of uncertainty, PT Bakrie & Brothers’ debt repayment was finally agreed upon last Tuesday. Included in the agreement is the reduction of share ownership by the Bakrie family to just 5 percent. However, what is most important is that the company’s US$1 billion debt has been settled. Bakrie is paying all its debts through debt-to-equity and debt-to-asset swaps. The Jak

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