Dec 26, 2005. /Lesprom Network/. The consortium of Deustche Bank and United Fiber System Ltd (UFS) finally increased its bid to buy 100% shares of PT Kiani Kertas from initial bid of $370 million to $430 million. It seemed that the higher bid was due to the strict competition as Putera Sampoerna also bid the company at the price of $370 million. Some executives involving in the transaction said that the consortium of UFS was ready to repay the whole debt of PT Kiani to PT Bank Mandiri as much as $230 million in additional to the payment of 100% shares of the pulp company at the price of $230 million. The president commissioner of PT Kiani Kertas, Luhut Binsar Panjaitan, said that the consortium of UFS was ready to pay the initial payment of $100 million after it signed sales and purchase agreement. Investor was also ready to repay the debt of the company, including its interest until November 2007, to Bank Mandiri. Previously the consortium had prepared initial payment of $50 million, and it would pay installment to Bank Mandiri as much as $20 million for several times until November 2007. He said that Deutsche Bank had expressed its commitment to repay the installment of Kiani's debt to Bank Mandiri. The bank said that for the bank it would be no problem as to who would become the investor. "But we ask for guarantee that investor wanting to take over the pulp company would execute their plan. We don't reject anyone who wants to become investor," he told Bisnis Indonesia over the weekend. Kishore Dass, CEO UFS, said that UFS would keep continuing its acquisition plan to acquire Kiani by ignoring on whether Deutsche Bank would stop becoming financial advisor on the acquisition due to the pressure from environmentalist. "The sales and purchase agreement of Kiani' shares have been signed, and the financing has been ready, no matter if Deutsche Bank will still involve in the transaction or not," Bloomberg quoted him as saying. He said that Deustche bank has informed UFS that the bank has been under pressure from environmentalists. Deustche Bank planned to meet the environmentalist in January 18, 2006, to deal with their requirements. "Today UFS is discussing with the bank on the implication of the development and how it would affect the role of Deutsche Bank as the financial advisor of the transaction," he added. Kiani Kertas was formed in 1990 to establish a truly world class market pulp mill at Mangkajang in the Berau district of Kalimantan Timur.