Borneo Lumbung?s stakeholders approve acquisition on Bumi Plc
Friday, December 30 2011 - 06:49 AM WIB
Stakeholders of IDX-listed coking coal producer PT Borneo Lumbung Energi & Metal Tbk gave approval for the company to buy shares of UK-listed Bumi Plc from PT Bakrie & Brothers Tbk.
The approval was reached during an extraordinary stakeholder meeting on Friday.
?With the approval, the company would start the acquisition process of 23.8 percent stake of Bumi Plc. We will also still wait result of shareholder meeting of the Bumi Plc,? the company?s director of marketing, Kenneth Raymond Allan said after the meeting.
Kenneth said that the shareholders also agreed with the company?s share buyback plans. (adianto)