LONDON (Yosefardi) – Bakrie Group and Asia Resource Minerals Plc (previously Bumi Plc) have agreed to extend the deadline for completion of Bakrie’s exit from the company to January 17, 2014.
“Bakrie Group is not able to complete the separation transaction in accordance with the previously agreed timetable,” Asia Resource Minerals said Wednesday.
The separation transaction deadline has been extended from January 15 to January 17, without which the transaction would have been terminated yesterday.
Shares of Asia Resource Minerals ended further down by 1% in London yesterday, while Bumi Resources flat in Jakarta this morning. Berau Coal Energy, unit of Asia Resource, meanwhile, lost 0.52%.