Rukun Raharja drops Capital Turbines take over

JAKARTA: PT Rukun Raharja Tbk today confirmed that it has dropped acquisition of PT Capital Turbines Indonesia. Previously, Rukun revealed that the acquisiton might be completed early 2011.Director and Corporate Secretary of Rukun Raharja Aminzar Rukun
Wandrik Panca Adiguna
Wandrik Panca Adiguna - Bisnis.com 15 Desember 2010  |  12:21 WIB

JAKARTA: PT Rukun Raharja Tbk today confirmed that it has dropped acquisition of PT Capital Turbines Indonesia. Previously, Rukun revealed that the acquisiton might be completed early 2011.Director and Corporate Secretary of Rukun Raharja Aminzar Rukun Zarkoni said the acqusition drop was due Capital Turbines hasn't obtained approval from third parties. The company prefers to focus its business to integrated oil and gas sector."To be sure, the company's subsidiary namely PT Panji Raya Alamindo will sign agreement of production sharing contract in Indonesia," he said in an official statement submitted to Indonesia Stock Exchange today. (wiw)

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