State-owned gas distributor PT Perusahaan Gas Negara (PGN) Tbk (PGAS) will make payment in two stages in purchasing 51% shares of PT Pertamina Gas (Pertagas), subsidiary of state-owned oil and gas firm Pertamina, for Rp16.6 trillion. The first payment, funded by internal cash, is scheduled for end of September this year. PGN has huge cash and cash equivalent of US$1.37 billion per June this year.

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