Bumi plans to buy back Arutmin, KPC shares from Tata: Report
Monday, March 16 2009 - 01:45 AM WIB
IDX-listed mining giant PT.Bumi Resources is planning to buy back 30 percent stake of Kalimantan coal mining firms PT.Arutmin Indonesia (AI) and PT.Kaltim Prima Coal (KPC) from Indian firm Tata Power, Kontan daily reported on Monday citing source.
The daily said Bumi will team up with investment firm Northstar Pacific and Credit Suisse.
Bumi sold 30 percent stake in AI and KPC to Tata in 2007 for US$1.1 billion.(*)