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Saturday, 13 August 11
GMR HAS ENTERED INTO CSPA WITH GEMS TO ACQUIRE 30% STAKE
COALspot.com - GMR Infrastructure Investments (Singapore) Pte Ltd, a subsidiary of GMR Infrastructure, has signed conditional sale and purchase agreement (CSPA) to acquire a 30 percent stake in PT Golden Energy Mines, a subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) on 11 August 2011.
This transaction is subject to the fulfillment of several conditions and is expected to close in calendar 2011, including but not limited to the approvals of the general meeting of the shareholders and the listing of GEMS’s shares in the Indonesian Stock Exchange, said Hermawan Tarjono, corporate secretary of DSSA, when interviewed by COALspot.com.
The acquisition value is in the range of USD 450 million to USD 550 million. The value can be anticipated only while nearing to the transaction closing. The transaction will be closed once the GEMS’s shares are listed in Indonesian stock exchange and the IPO which is expected around fourth quarter of the year. The 30% share purchase will be done by combination of strategic sale and IPO purchase which is under negotiation, according to Hermawan Tarjono.
Once the transaction is closed, GMR will participate in the GEMS’s Management as the GEMS is proliferating and becomes more professionally managed, he added.
GEMS, a subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA), owns four producing and six non-producing thermal coal concessions in Sumatra, South Kalimantan and Central Kalimantan.
GEMS is targeting to produce 6-8 million tonnes of coal this year
GMR Infrastructure Ltd has already invested in a coal mine located in South Sumatra. The company brought PT Barasentosa Lestari (PT BSL) early 2009 for around US$ 80 million. The mine is estimate to have reserves of 100 million tonnes.
To contact the reporter responsible on this story - Efendi at efendi@coalspot.com
Translated by - WB
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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
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Monday, 08 January 24
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Friday, 05 January 24
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Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- Global Business Power Corporation, Philippines
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- Wood Mackenzie - Singapore
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- The Treasury - Australian Government
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- White Energy Company Limited
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- GAC Shipping (India) Pvt Ltd
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- Barasentosa Lestari - Indonesia
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- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
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- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
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- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
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- Baramulti Group, Indonesia
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- Ministry of Finance - Indonesia
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