Erick Thohir Ensures Vale's Divestment To MIND ID Will Be Signed This Afternoon

JAKARTA - Minister of State-Owned Enterprises (BUMN), Erick Thohir confirmed that the signing of the release or divestment of 14 percent of PT Vale Indonesia Tbk's (INCO) shares to MIND ID will be carried out this afternoon.

Furthermore, Erick said, both parties have agreed on a share divestment price since last week. However, the signing will only officially take place this afternoon.

"The deal was last week, the signature was today. If the deal has not yet been signed, it is not black and white, now it has been proven," said Erick when met in the Central Jakarta area, Monday, February 26.

After the divestment is complete, continued Erick, his party will focus on monitoring Vale Indonesia's performance in the future. In addition, Erick admitted that he would boost the downstream program.

"The important thing is that if we have a safe ownership, he has a downstream blueprint to be accelerated in the future, that's all. If we control more how the company performs and commit it first. Because downstreaming needs to be accelerated," he said.

Erick said monitoring was carried out because so far the downstream program in Vale has been slow. In fact, he said, Vale had been around for more than 55 years in Indonesia.

"It's been slow, it's been 50 years. Just read the data," he said.

Furthermore, Erick also assessed that this stock divestment would not have a major effect on Vale's operations. Because, in terms of operations, Vale can run well.

"Operational I think it's normal, there's no change, because they're okay," he said.