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Print[Ferro-Alloys.com] Reuters reported that Sampoerna group is leading a consortium of local investors that is in talks to buy a 50% stake in Fajar Bumi Sakti, a coal unit of Bumi Resources for around USD 200 million.
The move is part of a plan by Bumi Resources to pay down some of its USD 3.9 billion debt, which includes USD 1.5 billion owed to sovereign wealth fund China Investment Corp.
The sources, who had direct knowledge of the matter said that the deal may still fail if the parties involved can’t agree on the valuation. The sources did not want to be identified due to the sensitivity of the matter.
Mr A Putranto an executive of Sampoerna Strategic said that “It is in our nature to look for opportunities for prospective investments in Indonesia.”
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