Government to sell stake in Jiwasraya

JAKARTA (Jakarta Post): The government through the State Ministry for State Enterprises, plans to sell off part of its stake in state-owned life insurance company PT Jiwasraya as part of the national privatization program.

"We will offer PT Jiwasraya to investors soon, but we need to restructure it first," said State Minister for State Enterprises Sofyan Djalil on Tuesday.

He said a number of investors, including Recapital Investment, had expressed an interest to buying a majority stake in the life insurance company.

Recapital Investment president director Rosan P. Roeslani had said his company planned to acquire a 75 percent stake in PT Jiwasraya.

Rosan, however, declined to say how much he would offer for the acquisition. "The important thing is that we will follow the government's rules and requirements," he said. (JP/ind)