Tuesday, March 06, 2007

US$900m for 30% of KPC & Arutmin

Investors are reportedly offering maximum USD900 million for 30% shares in PT Kaltim Prima Coal & PT Arutmin Indonesia, both are coal mining subsidiaries of PT Bumi Resources Tbk. The offers are well below earlier claim that Tata (India) offered USD1.6 billion.

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Anonymous Anonymous said...

Sadly that is probably already more than they are worth

March 06, 2007 12:40 PM  
Anonymous Anonymous said...

Is it Tata? Kontan daily reported Bumi will sell to Mitsubishi as pay back for their purchase of Kangean from EMP at above market price?

March 06, 2007 2:03 PM  
Anonymous Anonymous said...

what is it worth then?

March 06, 2007 4:29 PM  
Anonymous Anonymous said...

By the time you take into account all the outstanding Debtors, plus interest (of which there are hundreds). The re-investment required as the infrastructure has been run down to the max. The re-investment in people who can actually do the jobs they are paid to do. Oh and replace the systems of creative accounting ..$900 Million is a great price but I would be surprised if anyone would invest that amount unless they had control of the books and contracts going forward.

Certainly no "goodwill" involved with this company..

March 11, 2007 6:27 AM  

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