Delta Dunia completes BUMA acquisition

IDX-listed minnow PT Delta Dunia Makmur Tbk announced on Friday that it has completed acquisition of the entire shares of mining contractor PT Bukit Makmur Mandiri Utama (BUMA).

?Completion of BUMA acquisition marks the entry of Delta Dunia to mining contractor business,? Delta Dunia President Gunawan Angkawibawa stated.

The company said on August 20, 2009 that it would pay US$550 million for the acquisition.

The company also announced that Northstar Tambang Persada Pte Ltd has completed acquisition of 40% of Delta Dunia?s shares and has become one of significant shareholders.

Currently BUMA?s clients includes PT Adaro Indonesia, PT Arutmin Indonesia, PT Kideco Jaya Agung, PT Berau Coal, and PT Gunung Bayanpratama Coal.(alex)