Recapital Advisors raise US$300 million loan from PT Bumi Resources Tbk to acquire 90% shares PT Berau Coal. Recapital has agreed for the transaction of acquisition 90 percent shares of PT Berau Coal owned by Rizal Risjad worth US$1.5 billion.
Previously Recapital proposed the highest bid worth US$1.4 billion to acquire Berau Coal shares. Recapital competed against Banpu PLC Thailand, PT Quattro Inti Investama, and Consortium of Indika Energy.
Consortium of Indika consisted of Korea Electric Power Corporation (Kepco) and Capital Goup Companies. Meanwhile, Quattro is deemed the representative of business owner from Surabaya, Kentjana Widjaja and Daesang Group.
Some 51 percent Berau shares are owned by PT Armadian Tritunggal, the company with almost full possession of Rizal through PT Risco, Rognar Holding B.V. with 30 percent shares, and the rest owned by Sojitz Corp. Jepang.
The average Berau coal production is 20 million tons per year with 5,000-5.888 kcal with concession of 100,000 hectare plots of land in East Kalimantan.
Consortium of Indika consisted of Korea Electric Power Corporation (Kepco) and Capital Goup Companies. Meanwhile, Quattro is deemed the representative of business owner from Surabaya, Kentjana Widjaja and Daesang Group.
Some 51 percent Berau shares are owned by PT Armadian Tritunggal, the company with almost full possession of Rizal through PT Risco, Rognar Holding B.V. with 30 percent shares, and the rest owned by Sojitz Corp. Jepang.
The average Berau coal production is 20 million tons per year with 5,000-5.888 kcal with concession of 100,000 hectare plots of land in East Kalimantan.
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