PTBA narrows down acquisition target

State coal mining firm PT. Tambang Batubara Bukit Asam has narrowed down its acquisition target from five to one, the company?s official said.

?Our team has narrowed down acquisition target from five to one, and the tem is conducting due-diligence on the target,? said PTBA president Ismet Harmaini. He said that PTBA is looking to acquire the company?s majority share.

He declined to give detail about the target company except saying that it was a producing coalmine located in East Kalimantan.

PTBA has been known for several years as looking to buy coal companies to boost its production capacity, but thus far, it had not been successful to acquire one. (alex)