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Tuesday, 11 October 11
GLENCORE, SUITOR FOR BUMI PLC? - INSIDER STORIES


Insider Stories reported that, the largest commodities trader in the world, Glencore International Plc, is considering an opportunity to acquire a minority stake in London-based Bumi Plc, which has access to nearly 80 million tons of coal production currently controlled by Bakrie family.

PT Bakrie & Brothers, that owns 47% stake in Bumi Plc, breached two conditions in a US$1.35 billion loan agreement obtained from Credit Suiise AG and a group of lenders.

As a result, Bakrie & Brothers, as quoted by Bisnis Indonesia today, is in a default position. However, Bakrie management has confirmed that the company is not in such position. The company is considering to restructure or pay the loan facility of US$597 million that will mature in March 2012.

An analyst at Liberum Capital Ltd said the potential sale of Bumi Plc has drawn interest from several investors. "Glencore is the closest suitor, regarding to the relations with Bakrie Group.
Source: Insider Stories



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Thursday, 03 November 11
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Wednesday, 02 November 11
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There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...


Tuesday, 01 November 11
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COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...


Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...


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