PRESS RELEASE: KPC share offer price agreed
Tuesday, March 12 2002 - 12:40 PM WIB
The Government of Indonesia (GoI) and PT Kaltim Prima Coal (KPC) have agreed an offer price of US$822 million (100% basis) for the divestment offer of 51% of KPC?s shares.
The GoI and KPC have agreed that KPC will proceed with its divestment offer as soon as it is ?freed from all legal action related to KPC?s share divestment in Indonesia?.
The above agreement is expected to be formalized between the Minister of Energy and Mineral Resources and KPC.
Discussions on the withdrawal of the legal action are now underway. Once withdrawal has been completed, KPC will be able to proceed with the offer of shares.
For further Information, please contact:
Lex Graefe ? Rio Tinto; Phone: (021) 527 4208; Fax: (021)6274270
or
John O?Reilly ? BP; Phone: (021) 78548417; Fax: (021) 7854 9069