#TITLE_ALTERNATIVE#

• Main Author: MAYA SERUNI (NIM 29106039), PUTIE
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/8966
• Institution: Institut Teknologi Bandung

XYZ Internasional is an integrated energy company with business involvement in oil and gas exploration and production, drilling services, methanol production and power generation. This company has several subsidiaries including PT. ABC as drilling Services Company. In 2006, XYZ planning to adjust its company long term strategy to focus on development oil and gas business. To do so, XYZ need a lot of money, and decide to sell its majority possession of ABC share. <br /> <br /> <br /> <br /> <br /> This thesis is concentrate on calculating the appropriate ABC stock price per share. The price will be become basic price on process selling ABC stock from XYZ to buyer. To valuate ABC stock price will be used Discounted Free Cash Flow Method, and Market Comparable Method. <br /> <br /> <br /> <br /> <br /> <br /> DCF Method is use three scenarios: <br /> <br /> <br /> <br /> <br /> a. The highest price per share for optimist scenario is Rp 2.750 <br /> <br /> <br /> <br /> <br /> b. By most likely scenario is Rp 2.525 <br /> <br /> <br /> <br /> <br /> c. By optimist scenario is Rp 2.400 <br /> <br /> <br /> <br /> <br /> <br /> On Market Comparable Method using PER, price per share of ABC is Rp 1.740 and Rp 2.425 by Price to Book Value. Recommend ABC's Stock price based on analysis is Rp2.550 Per share from Discounted Cash Flow method with most likely scenario. Increase Rp 25.00 to gaining more profit for XYZ. This price is smaller than the price XYZ offer; however the price is higher than buyer’s expectation. <br /> <br /> <br /> <br /> <br /> The implementation of divestiture process is begin on September 2007, when the first time XYZ announced in public officialy, and is hoping will be closed the deal in the end of February 2008. <br />