Rosan to transfer assets and cash worth $173 m to Berau

By Peni Pedriawan

LSE-listed Bumi Plc and PT Berau Coal Energy Tbk announced on Wednesday to have entered into an agreement with Rosan Roeslani, the former President Director of Berau pursuant to which Roeslani has undertaken to transfer, or procure the transfer, to Berau assets and cash with a value equal to US$173 million.

The assets to be transferred under the Deed relate directly to the Berau value chain, and comprise shareholdings in a transshipment services company which currently transports all coal produced by Berau and a company which has possession of the land used by Berau for its operations.

It said that Bumi and Berau have also agreed to waive potential claims that they may have against Roeslani in respect of the Payments (the "Potential Claims") The Deed specifically states that Roeslani makes no admission of wrongdoing or liability in respect of the Potential Claims.

Editing by Adianto P. Simamora