Indonesian Coal Miner Hit With Suit To Halt $501M Stake Sale

Law360, New York (July 18, 2013, 6:25 PM EDT) -- As Indonesian coal miner Bumi PLC moved closer on Thursday to splitting up with the Bakrie Group through a $501 million stake sale, British banking heir and Bumi co-founder Nathaniel Rothschild reportedly lodged a suit in London courts to stop the deal.

Bumi and Bakrie units struck a deal Thursday in which Bakrie will take over Bumi's 29.2 percent interest in coal exporting company PT Bumi Resources Tbk, as a side deal that will get the companies closer to parting ways altogether, according to a regulatory...
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