Thursday, March 18, 2010

PT Bumi Resources Tbk. (BUMI) through subsidiary PT Multi Daerah Bersaing (MDB) has completed payment of 7% spin - off stake of PT Newmont Nusa Tenggara (NNT) period 2009 valued at USD 229.4 million or equivalent to Rp 2.08 trillion

PT Bumi Resources Tbk. (BUMI) through subsidiary PT Multi Daerah Bersaing (MDB) has completed payment of 7% spin - off stake of PT Newmont Nusa Tenggara (NNT) period 2009 valued at USD 229.4 million or equivalent to Rp 2.08 trillion

Post under at 1:45 AM Posted by Info Investor
PT Bumi Resources Tbk. (BUMI) through subsidiary PT Multi Daerah Bersaing (MDB) has completed payment of 7% spin - off stake of PT Newmont Nusa Tenggara (NNT) period 2009 valued at USD 229.4 million or equivalent to Rp 2.08 trillion through the transfer to the foreign stakeholders NNT namely Newmont Indonesia Limited (NIL) and Nusa Tenggara Mining Corporation (Sumitomo Corp. affiliate). MDB currently control 24% stake in Newmont. Newmont reportedly spin - off 7% to the Indonesian government and if the government is not interested, stake spin - off can be purchased by BUMN or local governments. MDB ambitious to buy stake 7% again of NNT.

Source : Investor Daily
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