Indonesia’s GMF AeroAsia shortlists Airfrance-KLM unit as strategic investor

Workers clean the body of a Garuda Indonesia Airbus A320 aircraft inside Hangar 4 of PT Garuda Maintenance Facility (GMF) Aero Asia at Soekarno-Hatta airport in Jakarta.

Indonesia’s PT Garuda Maintenance Facility AeroAsia (GMF AeroAsia) will pick Airfrance-KLM group’s maintenance, repair and overhaul unit as a strategic investor after narrowing down a list of potential partners, a GMF AeroAsia executive said.

PT Garuda Indonesia Tbk’s CEO said in October the flag carrier estimated its unit GMF AeroAsia could raise $200 million from selling a 20 percent stake to a strategic buyer.

GMF AeroAsia has a longstanding partnership with Air France Industries KLM Engineering & Maintenance.

Corporate secretary Mohammad Arif Faisal also told reporters on Monday that GMF AeroAsia would seek shareholders’ approval for a 20 percent stake sale in March and expects a deal would be signed soon after.

Reuters

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.