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Selling Bumis Crown Jewels

Tuesday, March 21, 2006

Bumi Resources is selling its coal mine for Rp29 trillion. The company plans to become an energy giant.

. tempo : 178039829381.

THE huge transaction was finally completed as dawn approached last Friday. After a marathon meeting of more than 10 hours in the Mid Plaza building, Jakarta, PT Bumi Resources Tbk. finally sold three of its coal companies, PT Kaltim Prima Coal, PT Arutmin Indonesia, and Indocoal Resources Limited, to PT Borneo Lumbung Energi.

The sale-purchase act was signed by CEO of Bumi Resources, Ari Saptari Hudaya, and Samin Tan, owner of PT Renaissance Capit

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