DKI JAKARTA - JAKARTA. The city administration is looking for a financial consultant to assist in the planned sale of its stake in beer manufacturer and distributor PT Delta Djakarta.
Disposing of the 26.25 percent stake in the company was a campaign promise by Jakarta Governor Anies Baswedan and his deputy Sandiaga Uno, who earlier said that it was improper for the city administration to own a stake in a brewery.
"We're now conducting a beauty contest to look for a financial consultant who can give us suggestions about our investment in Delta Jakarta," Sandiaga said on Monday according to kompas.com.
He added that the city administration would consult with the Indonesia Stock Exchange and the Financial Services Authority (OJK) about the plan because Delta Djakarta was a publicly listed company.
Sandiaga made no further comment about potential losses from the sell-off given that last year alone the company contributed Rp 37 billion (US$2.6 million) to the city's budget.
He also declined to comment on the size of stake that would be disposed of by the city administration, saying the information should be confidential.
The Jakarta administration has owned the shares in Delta Djakarta since 1970.
The company produces various brands of beer including Anker, Stout and Carlsberg.
