Delta Makmur completes acquisition of two coal mines

By Peni Pedriawan

Coal miner PT Delta Dunia Makmur said that the company has completed acquisition of PT Banyu Biru Sakti (BBS) and PT Pulau Mutiara Persada (PMP) with the total cost of Rp162 billion (US$16.9 juta).

In its statement to the IDX, the company said that with acquisition made on October 15 Delta Dunia will hold 99.9 percent of shares of the two companies.

Banyu Biru is a coal miner holding a IUP exploration over an area of 7,742 ha in East Kalimantan, while Pulau Mutiara is coal miner with IUP exploration having two concession areas with the combined size of 3,500 ha in Jambi.

Editing by Adianto P. Simamora