Two Bakrie family owned vehicles dubbed PT Bakrie & Brothers Tbk and Long Haul Holdings Ltd secured loan facility of US$1.34 billion or equal with IDR11.77 trillion in March 2 from Credit Suisse AG, Singapore.
Bakrie & Brothers sealed US$601.75 million or IDR5.29 trillion from the loan facility while, the remaining will be taken by Long Haul. Most of the loan will be used to settle the existing liabilities of the company.
Bakrie & Brothers said thecrossing of PT Bumi Resources shares owned by the company and
Long Haul Holding Ltd. to Vallar Plc occurred today. The move is part of a Nov. 16 agreement to sell a 25 percent stake in Bumi to Vallar, Bakrie & Brothers said in a statement to the Indonesia Stock Exchange.
Long Haul Holding Ltd. to Vallar Plc occurred today. The move is part of a Nov. 16 agreement to sell a 25 percent stake in Bumi to Vallar, Bakrie & Brothers said in a statement to the Indonesia Stock Exchange.
Bakrie transferred 2.85 billion shares from custodian account in Credit Suisse to Vallar’s custodian account in J.P.Morgan.Meanwhile, Long Haul crossed 2.34 billion of Bumi shares from custodian account in Credit Suisse to Vallar’s account in J.P. Morgan.Such crossing transaction was done when Bumi Resources stood at the level of IDR 2,500 per share.
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