November 1, 2016 edition
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September 27, 2016 edition
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In June this year, BHP Billiton Indonesia made a surprising business decision by selling 75 percent of the shares of its subsidiaryIndoMet Coal (IMC)to Adaro Energy for US$120 million (Rp1.56 trillion). The acquisition gives Adaro, which already owns 25 percent stake in IMC, full control of the company.
The acquisition also marks BHP Billiton's exit from Indonesia's coal business, a field the company has been in since 1997. However, BHP Billiton Indonesia CEO Imelda Adhisaputra said their business decision should not be construed as a downscaling of the coal business. She contends that the coal sector will remain attractive if the government and business players are willing to adjust to conditions, adapt and improve.
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