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Friday, December 4, 2009

Para Group attained US$1 billion credit: Trans Corpora to issue US$600 million bonds

as published in Bisnis Indonesia daily newspaper
Friday, 04/12/2009 00:00 WIB
Para Group attained US$1 billion credit
Trans Corpora to issue US$600 million bonds

JAKARTA: Para Group owned by Chairul Tanjung attained financing commitment worth US$1 billion to fund the acquisition of lifestyle media and industry with international networks.

Chairman of Para Group Chairul Tanjung said the company has got financing commitment from US and European banks worth above US$1 billion.

He said the would-be acquired firm is public company. The corporate now select five global media companies for the acquisition.

"On the discussion we surely talk about ownership structure. We want to become the majority. But if it is not possible yet, we will enter as the minor shareholder first," he said yesterday.

Para Group has three business lines, financial services under Mega Corpora. Media, lifestyle, and entertainment sectors are controlled by Trans Corpora, and natural resources sector under the control of CT Global Resources.

Chairul said the acquisition action for global scale lifestyle media and industry is executed as the corporate expansion which has so far had business of the sector through the subsidiary firm, PT Trans Corpora.

"We have talked with five major players in the would-be acquired sectors every month. We target that the sooner the decision is the better," he added.

The value of Trans Corpora now stands at US$2 billion, and is expectedly to triple by 2010 through expansion and acquisition of other companies.

He also said Trans Corpora plans to issue US$300-600 million bonds next year which will be projected for the development of Southeast Asia region studio.

"We have defined the location but we could not mention it. Underwriter selection is underway. But the point is that it will be overseas securities," he said.

In the past six years, Para Group keeps acquiring companies.

Two years ago, Para Group took over PT Mahagaya Perdana, PT Naryadelta Prarthana (Baskin Robbins), and PT Anta Express Tour & Travel Services Tbk. At the same time three new companies were established, namely Trans Living and CTG Property and multifinance corporations, Mega Auto Finance and Mega Central Finance.

Para Group also owns retail sector business with major possession in Bandung Supermall. In 2007, Chairul played in agribusiness sector by prepareing IDR5 trillion funds.

In 2008, Para Group prepared an acquisition of medium scale bank with IDR8 trillion acquisition fund prepared.

Mid this year, Chairul is said targeting online news portal, Detikcom, which is one of the business divisions of PT Agranet Multicitra Siberkom. The rumor spreads out when two minor shareholders of Detikcom, Tiger Investment and Mitsui & Co, intend to sell the stocks for business expansion.

Mitsui and Tiger Investment assigns Credit Suisse to offer their stocks. Agranet owns 59 percent of Detikcom, Tiger 39 percent, and Mitsui 2 percent. (Bisnis/bpj/21/mmh)



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