"There is a room for cancellation, however, if we find problems during the process"
PT Saratoga Investama Sedaya, a company owned by one of Indonesia's richest men Sandiaga Uno, plans to take over PT Mandala Airlines. The company still awaits the final result of the due diligence process.
Saratoga Investama Investment Manager, Devin Wirawan, said today that the due diligence will determine whether or not Saratoga will proceed into the acquisition.
"There is a room for cancellation, however, if we find problems during the process," he said.
Earlier, Saratoga set out to invest to Mandala Airlines by 51 percent of share ownership by setting up partnership with Singapore-based airline Tiger Airways.
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