Indonesian Tycoon Is Said to Weigh Selling Gold Miner Archi
- Sondakh’s Rajawali Group seeking premium, could keep a stake
- Jakarta-listed Archi has a market value of about $602 million
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PT Rajawali Corp., an Indonesian conglomerate owned by tycoon Peter Sondakh, is considering selling its controlling interest in gold miner PT Archi Indonesia, according to people with knowledge of the matter.
The Jakarta-based conglomerate is working with a financial adviser on the potential divestment and could decide to keep a stake, said the people, asking not to be identified as the process is private. Rajawali, which owns about 85% of the miner’s shares, is seeking about a $1 billion valuation for the company in a deal, one of the people said.