Bumi share price down 1.5%
Share price of PT Bumi Resources Tbk declined 1.5% to Rp1,310 today as some analysts predicted the deal between Tata Power and Bumi on 30% shares of KPC and Arutmin reflects a discount on last week's closing price. Bumi expects to receive total proceeds of approximately US$1.3 billion, including base price US$1,1 billion and additional price adjustment at the closing of transaction. The Sale will close subsequent to customary formal approvals for both the parties.
Bumi announced late last week that it intends to use the sale proceeds to fully redeem the outstanding balance of the existing US$900 million in Bumi’s subsidiaries, intercompany debt in Bumi’s mining company subsidiaries, Bumi debt and for Bumi’s working capital. The redemption of all debt in Bumi’s subsidiaries and intercompany loans will make the Coal Companies debt free. It will also fully repay the outstanding debt at Bumi level.
Till today, I got no details of terms/conditions of the deal. Anybody?
READ MORE!!!
Bumi announced late last week that it intends to use the sale proceeds to fully redeem the outstanding balance of the existing US$900 million in Bumi’s subsidiaries, intercompany debt in Bumi’s mining company subsidiaries, Bumi debt and for Bumi’s working capital. The redemption of all debt in Bumi’s subsidiaries and intercompany loans will make the Coal Companies debt free. It will also fully repay the outstanding debt at Bumi level.
Till today, I got no details of terms/conditions of the deal. Anybody?
READ MORE!!!
posted by yosef at 7:43 PM
1 Comments:
i know only one, bumi will supply coal to tata power to india 10,8 million cubic per annum, begin from 2010 until 2021. the price of coal will be base on market price.
Post a Comment
<< Home