Sales of Shares Citilink Backward Original Schedule

Garuda Indonesia plans to sell a 40 percent stake in its subsidiary, Citilink Indonesia. Director of Garuda Indonesia Satar said that the stake sale process continues to run despite the retreat of a pre-determined schedule. "Citilink continues the process path. Target is actually the end of June, but the target seems a bit delayed, "he said.
Satar said Garuda Indonesia Citilink shareholders 100 percent currently would not be in a hurry to sell the shares of its subsidiary. According to him, Garuda Indonesia must be selective in choosing prospective buyers Citilink. "For us, we did not want to press soon to be sold. Because after all we should see an added value, "said Satar.
However, until now silent Satar still associated with the resources to buy a 40 percent stake Citilink. He just gave the information that the two potential investors are foreign airlines. "Investors still remain two, but we have not been able to determine, essentially both foreign airlines," he concluded.
In a share sale this Citilink, Garuda Indonesia has appointed Standard Chartered Securities as a financial advisor. Citilink stake sale to a strategic investor is expected to strengthen the business capable of growing in the Citilink and competitive low-cost airlines.