NORTHSTAR AGREES TO PAY HIGHER PRICE FOR ELNUSA STAKE **The US-based
Northstar Pacific and partner Saratoga Capital look set to acquire a 37.5%
stake offered by PT Tridaya in PT Elnusa (JSX:ELSA), a company offering oil
and gas mining and exploration services.
    The two companies had set aside US$150 million to acquire the asset, the
newspaper Investor Daily quoted a company source as saying.Saratoga and
Northstar had agreed to pay Rp560 per share, as set by Tridaya, the source
said.Earlier, state oil and gas company PT Pertamina, which already owns
41.4% of Elnusa, offered to buy the stake at lower
price<http://www.tradingmarkets.com/.site/news/Stock%20News/2334093/#>of
US$92 million or Rp350 per share, the paper said.Other investors,
including Malaysia's Petronas and Nippon Oil Corpo. have also indicated
interest in the asset.(ANTARA)


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