BUMI Divests Stake in Citra Palu Mineral to BMRS

Thermal coal exporter PT Bumi Resources Tbk (BUMI) has divested its share ownership in its subsidiary, PT Citra Palu Mineral (CPM). This relates to the completion of the divestment of BUMI’s 3.03% stake in the business entity. The divestment was carried out with a transaction value of US$9,056,800, equivalent to Rp151,991,223,923, as part of the company’s strategic transition and diversification process. The shares were sold to the company’s subsidiary, PT Bumi Resources Minerals Tbk. (BMRS), encompassing 24,999 Series A shares and 927,236 Series C shares. Management disclosed that this transaction reflects Bumi Resources’ strategic direction, which is increasingly focused on near-term assets with controlling interests. ‘Through this divestment, the company can reallocate its capital to support ongoing growth initiatives in line with the company’s diversification agenda,’ management wrote in an official statement. Although BUMI no longer has direct ownership, the company retains indirect exposure to CPM’s performance through its shareholding in BRMS.