The Republic of Indonesia Officially controls Freeport
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Divestment of 51% of PTFI's shares is stated based on fairness. The government is called to get better acceptance.
After signing the head of agreement on July 12, 2018, PT Indonesia Asahan Alumunium (Inalum) signed a sales and purchase agreement (SPA) with PT Freeport-McMoran Inc and PT Rio Tinto Indonesia.
With the signing of the SPA, Inalum representing the Indonesian Government officially became the majority shareholder of PT Freeport Indonesia. Under the agreement, Inalum, as a state-owned mining holding company, paid US $ 3.85 billion for 51% of PT Freeport Indonesia (PTFI) shares. The payment process was reported to have taken place in two months.
Inalum CEO Budi Gunadi Sadikin
The signing of the SPA was carried out by Inalum CEO Budi Gunadi Sadikin with FCX CEO Richard Adkerson at the ESDM Ministry Office, Jakarta. yesterday. On the occasion were Minister of BUMN Rini Soemarno, Minister of Energy and Mineral Resources Ignasius Jonan, Minister of Finance Sri Mulyani Indrawati, and representatives of the Ministry of Environment and Forestry.
With the signing, the number of PTFI's shares owned by Inalum increased from 9.36% to 51.23% and the Papua regional government received 10% of 100% of PTFI's shares. The change in composition will occur after transactions worth US $ 3.85 billion, or equivalent to Rp. 57.3 trillion, which is targeted to be completed in November 2018.
Syndication
Inalum President Director Budi Gunadi Sadikin confirmed that the 51% stake in PTFI worth US $ 3.85 billion was available. The funds were taken from US dollar-denominated syndicates that did not interfere with the rupiah exchange rate.
"The source of money to pay US $ 3.85 billion is from a banking syndicate, at the latest by November the funds are available," said Budi after signing the SPA.
SOE Minister Rini Soemarno stated that the payment of 51% of PTFI's shares came from a syndicate of foreign banks. Funding for operational capital mining will use bond issuance.
"Syndication from foreign banks and all 11 banks have been confirmed. Later on, maybe, if we want a long-term refinance, maybe we will issue a bond, "Rini said.
Finance Minister Sri Mulyani said the divestment of 51% of PTFI's shares was based on justice. Through this step, the government gets better acceptance, but still maintains an investment climate.
"We can realize the same benefits for the country and investors," explained the Minister.
The Energy and Mineral Resources Minister Ionan added, after signing the SPA, the next process was to wait for PTFI to send a letter to the ESDM Ministry to request changes in shares, after the letter was sent, the Ministry of Energy and Mineral Resources would issue a letter of termination of the work contract to IUPK.
"After this process is complete, transfer of payments from Inalum to Rio Tinto and Freeport McMoran will continue," Jonan continued.
Freeport McMoran CEO Richard Adkerson confirmed the administrative settlement of the divestment of 51% of PTFI's shares smoothly even though it took time. "Every major merger must obtain approval from the antitrust organization. It's a time consuming procedure, but it's a challenge to complete the transaction. "
IN INDONESIA
Republik Indonesia Resmi Kuasai Freeport
Divestasi 51 % saham PTFI dinyatakan berlandaskan keadilan. Pemerintah disebut mendapat penerimaan lebih baik.
Setelah menandatangani head of agreement pada 12 Juli 2018, PT Indonesia Asahan Alumunium (Inalum) menandatangani sales and purchase agreement (SPA) dengan PT Freeport-McMoran Inc dan PT Rio Tinto Indonesia.
Dengan penandatanganan SPA itu, Inalum yang mewakili Pemerintah RI pun resmi menjadi pemegang saham mayoritas PT Freeport Indonesia. Dalam kesepakatan itu, Inalum selaku perusahaan induk (holding) tambang BUMN membayar US$ 3,85 miliar untuk 51% saham PT Freeport Indonesia (PTFI). Proses pembayaran senilai itu dilaporkan bakai berlangsung dalam kurun waktu dua bulan.
Penandatanganan SPA dilakukan Dirut Inalum Budi Gunadi Sadikin dengan CEO FCX Richard Adkerson di Kantor Kementerian ESDM, Jakarta. kemarin. Dalam kesempatan itu hadir Menteri BUMN Rini Soemarno, Menteri ESDM Ignasius Jonan, Menteri Keuanan Sri Mulyani Indrawati, serta perwakilan Kementerian Lingkungan Hidup dan Kehutanan.
Dengan penandatanganan itu, jumlah saham PTFI milik Inalum bertambah dari 9,36% menjadi 51,23% dan pemerintah daerah Papua mendapatkan 10% dari 100% saham PTFI. Perubahan komposisi itu akan terjadi setelah transaksi senilai US$ 3,85 miliar, atau setara Rp 57,3 triliun yang ditargetkan tuntas pada November 2018.
Sindikasi
Dirut Inalum Budi Gunadi Sadikin menegaskan dana pembayaran 51% saham PTFI senilai US$ 3,85 miliar sudah tersedia. Dana itu diambil dari sindikasi bermata uang dolar AS sehingga tidak mengganggu nilai tukar rupiah.
“Sumber uang untuk membayar US$ 3,85 miliar dari sindikasi perbankan, paling lambat November dana sudah tersedia,” tegas Budi seusai menandatangani SPA.
Menteri BUMN Rini Soemarno menyatakan pembayaran 51% saham PTFI berasal dari sindikasi bank asing. Pendanaan untuk modal operasional penambangan akan menggunakan penerbitan bond.
“Sindikasi dari bank asing dan semua sudah confirmed 11 bank. Nanti kita, mungkin, kalau mau refinance jangka panjang, mungkin kita akan keluarkan bond,” ujar Rini.
Menkeu Sri Mulyani mengatakan divestasi 51% saham PTFI berlandaskan keadilan. Melalui langkah itu, pemerintah mendapatkan penerimaan lebih baik, tetapi tetap menjaga iklim investasi.
“Kita bisa mewujudkan benefit yang sama sama baik untuk negara dan investor,” terang Menkeu.
Menteri ESDM Ionan menambahkan, setelah penandatangan SPA, proses selanjutnya ialah menunggu PTFI mengirimkan surat kepada Kementerian ESDM untuk memohon perubahan saham, setelah surat itu dikirimkan, Kementerian ESDM akan menerbitkan Surat pengakhiran kontrak karya menjadi IUPK.
“Setelah proses ini selesai akan dilanjutkan transfer pembayaran dari Inalum kepada Rio Tinto dan Freeport McMoran,” lanjut Jonan.
CEO Freeport McMoran Richard Adkerson memastikan penyelesaian administrasi divestasi 51% saham PTFI lancar meskipun membutuhkan waktu. “Setiap merger besar harus mendapatkan persetujuan dari antitrust organization. Itu prosedur yang memakan waktu, tapi itu tantangan untuk menyelesaikan transaksi.”
Media Indonesia, Page-1, Friday, Sept 28, 2018
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