Jakarta (ANTARA News/Asia Pulse) - Indonesia's largest coal producer PT Bumi Resources is almost certain to take full control of Herald Resources Ltd (ASX:HER), a report said today.
The management of the Australian mining company has agreed to sell all of its shares to Bumi Resources at a price of A$455 million (US$395.21 million), the newspaper Investor Daily said.
Credit Suisse will loan Bumi US$375 million to finance the acquisition Srivastava said Bumi will hold a shareholders' meeting later this month to get approval for the acquisition. Bumi corporate secretary Dileep Srivastava said a final deal is expected to be signed on February 15.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.