Indika restructures ownerships at coal unit
Wednesday, October 15 2014 - 12:54 AM WIB
By Romel S. Gurky
IDX-listed energy company PT Indika Energy Tbk announced Tuesday that its Singapore-based wholly owned subsidiary Indika Capital Pte Ltd (IC) has transferred its 10 percent shares in coal mining and trading firm PT Indika Indonesia Resources (IIR) to PT Indika Inti Corporindo (IIC).
The company said in a statement that the transaction will not alter control over the coal mining company as it directly holds 90 percent shares of IIR, and 99.9 percent shares of IIC.
Indika said that IIR acts as a sub-holding company housing the group?s subsidiaries engaged in coal mining and trading.
Editing by Reiner Simanjuntak