Indocement, Banpu still in talk over Indominco stake

Cement maker PT. Indocement Tunggal Prakarsa said on Friday it was still in negotiation to sell its 35 percent stakes in East Kalimantan based coal mining PT. Indominco Mandiri with Thai energy conglomerate Banpu Plc.

?We expect the sale could be concluded by the end of this year, or early next year,? said Thomas Kern, Indocement?s director of finance on Friday.

Kern said it had assigned BNP Paribas Pregerine to conduct valuation of the 35 percent stake Indocement has in Indominco and the valuation is expected to be concluded soon.

Banpu had already controlled 65 percent shares of Indominco through ownership of Indocoal, Indominco?s parent company.

Indominco produces some 4 million tons of coal annually. (alex)