INDONESIA
Yearning to bring it back home
After two years of protracted negotiations, Merrill Lynch earlier this year celebrated its newly opened joint-venture securities operation in Jakarta. Its liaison with local tycoon Hashim Djojohadikusmo, whose PT Persada Kian Pasti Lestari owns 20% of the new firm, had helped it win Indonesia’s two most coveted privatization mandates to date – global coordinator on Indosat’s $1.16 billion offering in 1994 and joint global coordinator on last November’s $1.6 billion transaction for PT Telkom.
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