Long Haul sells 5.2% stake in Bumi<\/p>\n
JAKARTA: Long Haul Holdings Ltd. has sold around 1 billion
\nshares, or a 5.2 percent stake, in PT Bumi Resources to investors
\nfrom Europe, Asia and America, a Bumi's director said Thursday.<\/p>\n
\"We were informed by Long Haul that they sold the shares at Rp
\n270 (3.1 U.S. cents) each early this week ,\" said Eddie Sobari,
\nthe finance director at Bumi.<\/p>\n
He didn't provide the name of the investors that bought Bumi
\nshares.<\/p>\n
Long Haul Holdings, an investment company based in the Jersey
\nIslands, is controlled by Indonesia's Bakrie Group.<\/p>\n
The sale in Bumi was aimed at increasing the quality of
\nforeign investors in the company, Eddie said, without
\nelaboration. After the sale, Long Haul now holds a 55.08 percent
\nstake in Bumi, down from 60.23 percent previously.<\/p>\n
BNP Paribas acted as the bookrunner and underwriter for the
\nsale, he added.<\/p>\n
In October, Bumi took over the entire PT Kaltim Prima Coal,
\none of the country's largest coal miners, from Rio Tinto Plc.
\n(RTP) and BP Plc (BP) for $500 million, which includes assumed
\ndebt. -- Dow Jones<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/long-haul-sells-52-stake-in-bumi-1447893297",
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"sponsor": "Okusi Associates",
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