(Bloomberg) -- PT Aneka Gas Industri’s owners are exploring selling a minority stake in the Indonesian industrial gas company, according to people familiar with the matter.
The Harsono family, which controls the majority of Aneka Gas’s shares, are working with a financial adviser on the potential divestment, said the people, who asked not to be identified as the process is private. The owners are considering selling about a 30% stake in the company, the people said. The Jakarta-listed firm has a market value of about $460 million.
Deliberations are ongoing and there is no guarantee that the family will proceed with a sale, the people said.
Aneka Gas’s board of directors and owners remain committed to delivering for stakeholders through various strategic projects, business development and partnerships, the company said in a statement responding to a query from Bloomberg News, and declined to comment further.
The majority of the Harsono family’s stake is held through PT Samator and PT Aneka Mega Energi, which own 40.5% and 25% of Aneka Gas respectively, according to its 2021 annual report.
Aneka Gas produces and sells various liquified and solid gases for industry as well as related products, and provides construction and installation services, according to its website. The company has the largest and most extensive network in Indonesia, operating 54 plants and more than 106 filling stations across 28 provinces.
(Updates with company network details in last paragraph.)
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