Cemex rejects Sugiharto again, go ahead with Rajawali
Cemex Asia Holding send a letter to Minister of SOEs Sugiharto today and reiterated its objections on the latter's appeal for more time to exercise the rights of first refusal in Cemex's divestment of 25.5% shares in PT Semen Gresik Tbk.
People close to the saga said Cemex make it clear to Sugiharto that it would go ahead with the plan to sell 24.9% shares of Semen Gresik to Rajawali Corporation at USD337 million. "For Cemex, the game is over," he said.
A cabinet meeting last week actually asked Sugiharto to accept Cemex's offer to drop the arbitrary suit as part of the deal with Rajawali. "Government could deal with Rajawali later on, let say to accommodate some interests in Semen Gresik, including from West Sumatra groups," a high-level officer attending the cabinet meeting said.
But Sugiharto insisted to take all the opportunities he has in hands to try to deal directly with Cemex. He sent the second letter to Cemex on Friday just after Cemex's rejection on the first letter. The answer is the same. Time's up!
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People close to the saga said Cemex make it clear to Sugiharto that it would go ahead with the plan to sell 24.9% shares of Semen Gresik to Rajawali Corporation at USD337 million. "For Cemex, the game is over," he said.
A cabinet meeting last week actually asked Sugiharto to accept Cemex's offer to drop the arbitrary suit as part of the deal with Rajawali. "Government could deal with Rajawali later on, let say to accommodate some interests in Semen Gresik, including from West Sumatra groups," a high-level officer attending the cabinet meeting said.
But Sugiharto insisted to take all the opportunities he has in hands to try to deal directly with Cemex. He sent the second letter to Cemex on Friday just after Cemex's rejection on the first letter. The answer is the same. Time's up!
Labels: Rajawali Corp, Sugiharto
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posted by yosef at 8:19 AM
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