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Energy
Darma Henwa, Prove Energy & Corfield takeovers
Coal mining contractor PT Darma Henwa Tbk (DEWA), an affiliated of coal miner PT Bumi Resources Tbk (BUMI), were in frenzy acquisitions last year. However, the actions have raised questions. The story of the takeovers began on May 22 2007 when Darma Henwa acquired Prove Energy Investments, a British Virgin Islands-based SPV, from Zurich Asset Full Article
Mitrabahtera placement & Patin Resources
Prasatya family has offered 200 million shares with upsize option of 88 million shares or in total representing 16.5% of the issued capital in coal tug boat and barges provider PT Mitrabahtera Segara Sejati Tbk (MBSS) at Rp1,560-Rp1,630 a share. In the offering structure obtained by The Insider Stories yesterday, PT Patin Resources, owned by Full Article
Berau Coal & 3.40 bio shares issuance
PT Berau Coal Energy Tbk (BRAU) is seeking an approval from its shareholders regarding to a transfer authority to board of commissioner for 3.40 billion of new shares issuance or nearly 10% of outstanding shares. Such matter will be discussed during an extraordinary general meeting (EGM) with two other agendas, said Berau’s management in a Full Article
Dian Swastatika acquires Andalan Lestari
PT Dian Swastatika Sentosa Tbk (DSSA), controlled by Fuganto Widjaja, son of Indra Widjaja, reported a 99.83% takeover of PT Andalan Satria Lestari worth Rp8.70 billion. Hermawan Tarjono, Director of Dian Swastatika, said the acquisition is held by DSSA’s unit dubbed PT Bumi Kencana Eka Sejahtera. Bumi Kencana bought 87,000 shares issued by Andalan Lestari Full Article
Ibrahim Risjad passes away
One of Indonesian tycoon Ibrahim Risjad, father of businessman Rizal Risjad, has passed away on February 2012 in Singapore due to illness at the age of 77. Ibrahim Risjad, stellar businessman during President Soeharto era,is a non-executive director of First Pacific Company Limited, a holding company of Indofood Group that is controlled by Anthony Salim. Full Article
Indika Energy acquires Multi Tambangjaya US$132 million
PT Indika Energy Tbk (INDY) announced that wholly-owned subsidiaries have signed a conditional sale and purchase agreements to acquire, together with a co-venturer, 100% stake of PT Multi Tambangjaya Utama (MTU) as well as its coal distribution rights for a combined indicative purchase price of approximately US$132 million. Indika bought the assets, excluding the MTU’s Full Article
Samin Tan completes Bumi Plc takeover
Indonesian businessman Samin Tan who owns PT Borneo Lumbung Energi & Metal Tbk (BORN) today has completed a 23.8% takeover of Bumi Plc worth US$1 billion from Bakrie Group. “Yes, tomorrow , there will be signing ceremony,” said Samin Tan to Insider Stories today.Full Article
Samin Tan buys 23.8% stake in Bumi Plc
Stellar figure Samin Tan, who is known as one of closest buddies for Nirwan D. Bakrie, may soon take part as a 23.8% stake holder in London-based Bumi Plc. Samin Tan, former auditor of Deloitte & Touche, through its coking coal miner PT Borneo Lumbung Energi Tbk (BORN), is scheduled to announce a shares swap Full Article