Indonesia Rajawali considers selling Gresik stake

Indonesia Rajawali considers selling Gresik stake
Published: 23 April 2008

The Rajawali Group is considering selling its 24.9 per cent stake in PT Semen Gresik hoping to earn a  gain after two years investing in the country’s largest cement maker.
 
Rajawali has selected a number of foreign investment banks to become its financial advisors in the divestment plan, an industrial source told the newspaper Bisnis Indonesia.
 
Rajawali paid US$336.7m to former shareholder Cemex Asia Holding for the stake in July 2006.