Oil and gas firm PT Medco Energu Internasional Tbk (MEDC), owned by Arifin Panigoro, is en route to controling 76% stake in PT Newmont Nusa Tenggara (NNT) valued at US$2.2 billion, equivalent Rp30 trillion. The company is now in talks regarding this transaction.  The big question remains as to whether Medco/Panigoro will get significant banking loans to finance a bigger slice of ownership in the future of NNT.

To subscribe please click here