PT Bumi Resources Tbk plans to divest its 20% stake in PT Bumi Resources Minerals Tbk (BRMS) in the third quarter of 2012 for raise US$400 million.
Investor from Europe and China are interested to buy Bumi Minerals. Bumi Resources now controls 87% stake in Bumi Minerals.
The divestment of Bumi Minerals becomes source of fund for Bumi Resources to reduce its debt this year. Bumi plans to cut its debt to US$1.9 billion this year from current US$3.8 billion.
Bumi Resources previously said it targets to repay US$750 million debt this year, consisting of loan to China Investment Corporation (CIC) amounting US$600 million and commercial loan amounting US$150 million.
No comments:
Post a Comment