Australia?s New Hope may sell Indonesian coal units

Australian company New Hope Corporation Limited (NHC) said Friday that it had commenced preliminary negotiations with potential investor, which may lead to an offer in the near future for its international assets.

NHC?s international assets comprise of a 40.83 percent stake in South Kalimantan-based coal producer PT Adaro Indonesia and a 50 percent stake in coal port operator PT Indonesia Bulk Terminal located in the same province.

Aside from both assets, NHC also holds interest in Coaltrade Services International Pte Ltd, a Singapore based commodity trading, through an equity stake in Coaltrade?s parent company Vindoor Investments (Mauritius) Limited.

?Discussions are at an exploratory stage and the Directors have appointed Pitt Capital Partners Ltd (PCP) and Baker & McKenzie to advise NHC,? New Hope said in a statement to the Australian Stock Exchange.

An official at PT Dianlia Setyamukti, NHC?s partner in both Indonesian assets, contacted by Petromindo.Com on Friday said it has just been informed about the divestment plan. ?We will send a letter to confirm their (NHC) plans,? Dianlia corporate secretary Andre Mamuaya said. (robert)