By Cindy Silviana
Pertamina wants to divest to help maintain its long-term financial condition, and to avoid risking too much in any one particular asset class.
A Jakarta court ruled in favor of Tjokrosaputro in November 2017, ordering the U.S firm to return shares and pay $22.07 million in compensation.
It’s tempting to think of the Southeast Asian internet market as a battle between “China” and “Silicon Valley” but the front lines are much fuzzier.
Bizzy’s backers include Sinar Mas Digital Ventures, Ardent Capital and Maloekoe Ventures.
This comes a day after Freeport-McMoRan Inc said it would sell a majority stake in the world’s second-biggest copper mine to the Indonesian state-owned miner via a series of complex deals worth $3.85 billion.
NFC becomes the third Indonesian startup to list on the stock exchange after O2O e-commerce firm Kioson and digital kiosk firm M Cash Integrasi.
Go-Jek’s $1.5-billion round not only marked the biggest round of funding ever raised by an Indonesian startup but also highlighted the presence of conglomerates as a force to be reckoned with in the venture capital space.
State-owned Inalum will pay that amount for a 51% stake, increasing the nation’s holding from just over 9 percent, in a three-way pact that also sees Rio Tinto Group cash out on its economic interest in the mine for $3.5 billion.
It has given a mandate to PwC to advise it on the spinoff and IPO structure as well as ongoing audit functions for the e-wallet business.
East Ventures last year invested in a similar startup for car sales called Mobilkamu