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Reuters India References Report Issued by O’Melveny Lawyers on Indonesia’s Divestment LawJuly 24, 2012
The July 24, 2012, Reuters India article “Freeport Indonesia says offers government 9 percent stake” noted that Freeport McMoRan Copper & Gold Inc., has offered the Indonesian government a 9.35 percent stake in its operations as a move towards divesting its assets in accord with new government regulations. Freeport is also considering an initial public offering as a possible option.
The article quoted a report issued by O’Melveny & Myers LLP on the country’s divestment law: “As listing has generally been considered sufficient to meet equivalent divestment requirements under Contracts of Work, we believe a listing is likely to be considered sufficient to comply.”