“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.

They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."
"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)
(Subjects: Who/What is Kryon ?, Egypt Uprising, Iran/Persia Uprising, Peace in Middle East without Israel actively involved, Muhammad, "Conceptual" Youth Revolution, "Conceptual" Managed Business, Internet, Social Media, News Media, Google, Bankers, Global Unity,..... etc.)

Saturday, November 01, 2008

Bakrie signs deal to sell stake in Bumi

The Jakarta Post |  Sat, 11/01/2008 5:31 PM  

PT Bakrie & Brothers (B&B) has made an agreement to relinquish its ownership in the firm’s most prized company, Bumi Resources, to a global equity fund manager Northstar Pacific. 

B&B director Ary Hudaya told The Jakarta Post Sunday that an agreement for the acquisition of 35 percent stake in Bumi for US$1.357 billion was signed with Northstar on Saturday night. 

Ary said the corporate action was made to settle all outstanding debt ahead of schedule as a proactive response to the irrational market conditions triggered by U.S. sub-prime crises, which led to the Indonesian Stock Market turmoil following a global liquidity squeeze. 

Bakrie needs to sell its assets to accelerate debt payments of $1.2 billion after shares of Bumi and other Bakrie firms, pledged as collateral for $1.43 billion in loans, plummeted during the stock market havoc earlier this month. 

Ary said the company was not aiming to buyback its shares. “There will be no buybacks … We don’t’ want to speculate further. We wanted to settle the debt as soon as possible,” he said. 

When asked how the acquisition would affect the suspension of trading of Bumi’s shares in the stock market, Ary said that it was up to the capital market regulator. 

“We have sent a letter to the regulator yesterday … We will hold a public expose after the deal is fully completed,” he said. (and)

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