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Asia300

Indonesia's Pertamina nears takeover of state gas distributor

Deal marks step forward for President Widodo's SOE consolidation plans

Workers load canisters of liquid petroleum gas onto trucks for delivery to customers. Indonesia's oil and gas giant Pertamina will take over state gas distributor PLN to consolidate their gas businesses. (Reuters)

JAKARTA -- Indonesia's state oil conglomerate Pertamina edged closer to a takeover of state-owned gas distributor Perusahaan Gas Negara on Thursday, after the latter held a shareholders' meeting to approve the transfer of the government's 57% stake to Pertamina.

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