Vallar To Buy Stake In Indonesian Coal Cos. For $3B

Law360, New York (November 16, 2010, 5:42 PM EST) -- Mining investment firm Vallar PLC said Tuesday it has agreed to buy stakes in PT Bumi Resources and PT Berau Coal Energy, the first- and fifth-largest coal mining businesses in Indonesia, in a cash-and-stock deal worth $3 billion.

The U.K.-based firm will purchase 25 percent of Bumi and 75 percent of Berau, creating a London-listed Indonesian resources company that will be renamed from Vallar to Bumi PLC, Vallar said in a statement.

Indonesian conglomerate PT Bakrie & Brothers TBK will be the largest combined shareholder in...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.