Marubeni acquires KPC-Arutmin US$2.25 billion
As I reported earlier, Marubeni Corporation is apparently acquiring two coal producers PT Kaltim Prima Coal and PT Arutmin Indonesia from PT Bumi Resources Tbk with price tag of US$2.25 billion, people close to the deal said.
Credit Suisse First Boston (CSFB) is advising Marubeni Corporation, Japan, for the deal, while JP Morgan for PT Bumi Resources Tbk.
Bumi would use the proceeds from KPC and Arutmin to buy Freeport Indonesia shares.
"They need money to buy Freeport shares. The buyer, Japanese trading company, seems to offer huge amount of money that the company can't resist. The amount may well above US$2.25 billion," said another banker.
Marubeni Corporation is one of the largest coal traders in the world. "Marubeni use its internal funds to finance the transaction."
PT Bumi Resources Tbk, which controls PT Kaltim Prima Coal and PT Arutmin Indonesia, was reportedly planned to acquire shares of Freeport Indonesia. Meanwhile, Marubeni owns shares in coal mining operations in Australia and Canada.
"They need money to buy Freeport shares. The buyer, Japanese trading company, seems to offer huge amount of money that the company can't resist. The amount may well above US$2.25 billion," said another banker.
Marubeni Corporation is one of the largest coal traders in the world. "Marubeni use its internal funds to finance the transaction."
PT Bumi Resources Tbk, which controls PT Kaltim Prima Coal and PT Arutmin Indonesia, was reportedly planned to acquire shares of Freeport Indonesia. Meanwhile, Marubeni owns shares in coal mining operations in Australia and Canada.
Koran Tempo reported today market rumor that Bumi Resources would sell some shares in KPC to acquire electricity company PT Indonesia Power.
Labels: Bumi Resources, COAL, CSFB, Electricity, FREEPORT, JP Morgan, MARUBENI
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posted by yosef at 4:19 PM
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