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Sunday, May 7, 2006

The acquisition of Kaltim Prima Coal was the turning point for the return of the Bakrie Group business empire. Thanks to a cash advance of US$40 million.

arsip tempo : 173225010058.

. tempo : 173225010058.

IT is still fresh in peoples minds when Aburizal Bakrie threw in the towel before hundreds of creditors four and a half years ago. The leader of the Bakrie Group business kingdom declared openly that his family was willing to surrender share ownership in PT Bakrie Brothers Tbk, from 58.42 percent to merely 2.92 percent.

Majority share ownership changed hands to creditors as a result of the debt restructuring agreement of US$1.1 billion (around Rp1

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