PRESS RELEASE: KPC agrees to extension of divestment offer timetable
Monday, July 1 2002 - 08:26 AM WIB
Following is a press release from PT. Kaltim Prima Coal:
PT Kaltim Prima Coal (KPC) and the Government of Indonesia have agreed to extend the time for the 2001 offer of 51% of the shares in KPC to 31 July 2002. The price of US$822 million (100% basis) remains unchanged.
This agreement follows the good progress made by both parties. Discussions to finalise the necessary formal agreement by 31 July are continuing.
KPC will make its 2001 share offer subject to removal of the litigation and the signing of the formal agreement with the Government of Indonesia. (*)
For further information, please contact:
Lex Graefe ? Rio Tinto; Phone: (021) 527 4208; Fax: (021) 527 4270 -OR- John O?Reilly ? BP; Phone: (021) 7854 8400; Fax: (021) 7854 9069.