Darma Henwa sells marketing agent for $80m

IDX-listed firm PT Darma Henwa reported on Friday that it has signed a Condition Share Purchase Agreement with Thionville Financier Limited to sell its 100 percent shares in Coal Vista Resources for US$80 million.

Proceed from the sale will be utilize to pay long-term debts, capex and working capital, the company said.

The company did not give further detail about Coal Vista, but in its June presentation, it said that Coal Vista is a coal marketing agent.

Darma Henwa is controlled by the powerful Bakrie family, which also controls IDX-listed mining giant PT Bumi Resources Tbk.(alex)