JAKARTA (Yosefardi) – Coal giant PT Bumi Resources Tbk (BUMI) has not yet divested 42% stake in PT Bumi Resources Minerals Tbk (BRMS), as scheduled to complete by this month.
BUMI is expected to get US$257 million from stake divestment, used to pay part of debts to China Investment Corportion (CIC).
The divestment, BUMI said, is rescheduled to end December. BUMI will hold shareholders’ meeting on December 18, 2013 for gaining approval on the divestment proposal.
At 10.33 am Jakarta time, BUMI gained 1.3% to Rp390 while BRMS was traded flat at Rp230.