Rumor 24 Sept 2010 Cetak
Jumat, 24 September 2010 01:11

Publicly listed consumer electronic trading and retail distribution company PT Agis Tbk (“Agis” or the “Company”) has successfully signed a MOU today with a US$ 3.4 billion Swiss-based alternative investment firm Global Emerging Markets (“GEM”). In line with Agis’ plan to diversify into other prospective industries, GEM has agreed to financially back up Agis’ plans to invest in natural resources businesses in Indonesia.


Under this MOU, GEM has committed to provide Agis up to an aggregate amount of USD 150 million of capital which will be utilized to acquire majority stakes in prospective mining assets and operations in Indonesia. In the next few weeks, Agis shall endeavor to craft and execute the definitive agreements with the targeted company.


On a separate note and in accordance to an Investment Agreement (“ELC”) executed between GEM and the Company on 23 April 2010, the Company is also pleased to announce that it has successfully executed its first Draw Down pursuant to the ELC.

About GEM Group
Global Emerging Markets Limited, www.gemny.com, was founded in 1991. GEM is a $3.4b investment group having completed 285 transactions in 60 countries. The firm is an alternative investment group that manages a diverse set of investment vehicles across the world. GEM’s funds include: CITIC/GEM Fund; VC Bank/GEM Mena Fund; Kinderhook; GEM Global Yield Fund; GEM India and Banco Pine/GEM Funds.