JAKARTA (Indonesia Today) – Puma Energy LLC acquires 63.88% stake in PT Medco Sarana Kalibaru, subsidiary of PT Medco Energi Internasional Tbk (MEDC).
Puma Energy is member of Trafigura Group, the world biggest commodity trading company based in Switzerland.
Frila B Yaman, Medco Energi’s director and COO, said Medco Sarana will change name into PT Puma Medco Petroleum. “We will together invest in fuel distribution and storage business,” she said.
Frila added the transaction will be concluded by December but she declined to disclose the value of transaction.
Medco Energi had previously divested 51% stake in PT Medco Power Indonesia to Saratoga Capital for US$112 million. (hans@theindonesiatoday.com)