Erick Thohir: Vale Stock Divestment Price Agreement Is Signed Next Monday

JAKARTA - Minister of State-Owned Enterprises (BUMN) Erick Thohir revealed that the signing agreement on the 14 percent share divestment price of PT Vale Indonesia Tbk (INCO) will be held next week or Monday, February 26, 2024.

"The signing agreement Monday (February 26) at 4 pm will be witnessed by Mr. Arifin (Minister of Energy and Mineral Resources), Mr. Bahlil (Minister of Investment), and also Mr. Luhut Coordinating Minister for Maritime Affairs and I," he said when met at Danareksa, Jakarta, Tuesday, February 20.

But unfortunately, Erick was reluctant to reveal how much the divested price of the agreed INCO shares was.

"I don't want comments about prices because as long as it's not in black and white, I can't comment. Moreover, this is a company Tbk," he said.

Previously, it was reported that the Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif gave a leak related to the concept of divestment price of PT Vale Indonesia (INCO) to the BUMN mining holding company, MIND ID.

Arifin said the price agreed by both parties was in the range of IDR 3,000 per share or below Vale's current market price.

Just so you know, on Friday, February 16, 2024, Vale's shares were priced at IDR 3,950 per share.

"Under that market price, the head is still three (above Rp. 3,000) but the head is beating," Arifin told the media when met at the Office of the Directorate General of Oil and Gas at the Ministry of Energy and Mineral Resources, Friday, February 16.

Arifin ensured that the negotiation process between MIND ID and Vale had been completed and was just waiting for administrative matters.

"God willing, it's just an administration," continued Arifin.