Recapital Advisors win over the acquisition bid for 90 percent shares of PT Berau Coal worth US$1.5 billion.
Following the negotiation of PT Indika Energy Tbk management with owner of PT Berau Coal, Rizal Risjad, now Recapital Advisors has turn to intensify acquisition negotiation of 90 percent coal mining firm stakes here.
Recapital is one of Berau buyers offering US$1.4-1.45 billion price. The price is the highest among the prices offered by other buyer candidates such as Indika Energy, PT Quattro Inti Investama, the means of Surabaya business owner, Kentjana Widjaja, who possesses Widjaja Group.
PT Indika Energy Tbk offered US$1.15 billion as bidding price, and PT Quattro Inti Investama, the company which is used by Surabaya businessman, Kentjana Widjaja, offered Berau at US$1.2 billion.
Some 51 percent shares of Berau are owned by PT Armadian Tritunggal, a company with almost full possession of Rizal through PT Risco, Rognar Holding B.V. with 30 percent shares, and Sojitz Corp. Japan.
In the stock sales, Berau is assisted by the investment advisors, Merrill Lynch, Deutsche Bank, and Pacbridge Capital.
In the stock sales, Berau is assisted by the investment advisors, Merrill Lynch, Deutsche Bank, and Pacbridge Capital.
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