Local shipping company PT Berlian Laju Tanker is set to buy a stake in Oslo-based shipping company Camillo Eitzen and Co (CECO).
Berlian said Monday it had made a "voluntary exchange offer" for the CECO stake at a price of 25 krone (US$6.1) a share. CECO was trading at $6.75 a share in Oslo.
Berlian will submit the offer in the form of mandatory convertible bonds, for which the company will pay CECO with its shares.
The Indonesian firm said it planned to list its shares in Oslo.
Berlian said Monday it had made a "voluntary exchange offer" for the CECO stake at a price of 25 krone (US$6.1) a share. CECO was trading at $6.75 a share in Oslo.
Berlian will submit the offer in the form of mandatory convertible bonds, for which the company will pay CECO with its shares.
The Indonesian firm said it planned to list its shares in Oslo.