VIVAnews - PT Bumi Resources Tbk (BUMI) took over 89 percent of Pendopo Coal Ltd shares valuing up to Rp 1.3 trillion (US$117.36 million) through its subsidiary PT Bumi Resources Investment.
The acquisition was carried out through a share purchase agreement with Indomining Resources Holding Ltd on 5 January 2009.
"Pendopo Coal Ltd indirectly owns 94.9 percent of Pendopo Energi Batubara shares," said Bumi Director Eddie J. Soebari on Wednesday, Jan 7.
President Director of Bumi Resources Ari S. Hudaya said that the company will explain the details of the acquisition next week.
Hudaya went on to say that Fajar Bumi Sakti does not have any relationship with Bumi Resources although both companies occupy the same building.
Bumi Resources Investment had also indirectly controlled around 75.74 percent shares belonging to Fajar Bumi Sakti through the purchase agreement between Bumi Resources Investment and Ancara Properties Limited on 26 December 2008.
"In the agreement, Bumi Resources Investment took over 76.9 percent of Ancara Properties Limited issued to Leap Forward Finance Limited. In addition, Leap Forward indirectly controls 98.5 percent shares invested in Fajar Bumi Sakti," said Soebari.
In addition, Bumi through the same subsidiary indirectly took control of 44 percent Darma Henwa (DEWA) shares.
On 23 December 2008, Bumi Resources Investment signed a share purchase agreement with Goodrich Management Corp in line with share purchase of 80 percent shares in Zurich Asset Investment Ltd. Zurich Asset Investment controls 55 percent of shares invested in Darma Henwa.
Soebari went on to say that the share purchase transaction of Pendopo Coal will paid in installments. The company will provide the down payment which amounts to Rp 841 million (US$75,871).
Translated by: Bonardo Maulana Wahono
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