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Indonesian government approves acquisition between Persero & Vale Indonesia

9 Oct 2019 16:26 reported by Lemon

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According to the news on October 7th, the Indonesian government had appointed PT Indonesia Asahan Aluminium (Persero), a state-owned miner, to buy a part of the stake from PT Vale Indonesia Tbk, Indonesia's largest nickel producer.

PT Vale Indonesia Tbk planned to sell 20% of the total stake to local investors to meet the new rules in Indonesia which restricted further foreign ownership of mineral resources.

Vale Indonesia expected to sale in October, and the government officials rejected to tell how much the share had been sold at the end, and both companies also didn’t show any common on this acquisition.

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