Recapital Wins Bid To Buy 90% Stake In Armadian Tritunggal
JAKARTA -(Dow Jones)- Indonesian investment firm PT Recapital Advisors said
Monday that it signed an agreement to buy a majority stake in PT Berau Coal from
the Risyad Salim family's investment firm PT Armadian Tritunggal, in a deal
analysts said is one of the country's largest in terms of value in recent years.
A banker close to the deal told Dow Jones Newswires that Recapital agreed to
buy a 90% stake in Armadian Tritunggal for $1.5 billion, which in turn owns a
51% stake in Berau Coal, Indonesia's fourth-largest coal miner in terms of
output.
"After the signing on Thursday, the transaction has one month until completion
whereby the seller will deliver the purchased shares free and clear in return
for cash payment," Recapital Chief Executive Rosan Roeslani said.
-By Edhi Pranasidhi; Dow Jones Newswires; 62-21 39831277; I-Made.Sentana@
dowjones.com
(END) Dow Jones Newswires
11-29-092138ET
Copyright (c) 2009 Dow Jones & Company, Inc.
|