Jakarta (ANTARA News) - State oil and gas company Pertamina plans to sell a 66.7 percent stake in its subsidiary, Patrajasa, through an auction next month.

The state asset management company PT Perusahaan Pengelola Aset (PPA) would soon call a tender for the sale of Pertamina assets including buildings, housing and hotels worth Rp2 trillion-Rp3 trillion, PPA Director Andi Saddawero said here on Sunday.

The hotels up for auction were Hotel Patra in Bali, Cirebon, Semarang and Parapat, he said.

Hotel Patra which had so far been managed by PT Patrajasa belonged to the classes of two to five star hotels, he said.

Pertamina had left the sale of the assets which are not relevant to its core business to PPA since 2009, he said.

The other assets up for auction would be Patra building located on Gatot Subroto Street in Jakarta and 132 plots of land in the Patra Kuningan housing complex in Jakarta.

"By selling part of the shares, Pertamina will no longer become a majority shareholder there," he said.

He said PPA was also looking for companies to hire an air field and golf course owned by Pertamina in Jakarta`s southern outskirts of Pondok Cabe.

"We originally planned to find investors. But the government during a meeting at the Coordinating Ministry for Political, Legal and Security Affairs decided not to sell the assets which are still needed to support state defense and security," he said.
(Uu.S012/P003)

Editor: Priyambodo RH
COPYRIGHT © 2012

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