Indonesia Bukit Asam Submits Bid To Buy BHP Coal Mines -Executive
October 06 2009 - 3:30AM
Dow Jones News
PT Tambang Batubara Bukit Asam (PTBA.JK) submitted a bid to
acquire BHP Billiton PLC's (BHP) coal mines after the
Anglo-Australian company said it may pull out of Indonesia, a
company official said Tuesday.
Bukit Asam President Director Sukrisno said the company has
formed a consortium to buy the coal mines in Central and East
Kalimantan. He declined to name the partners in the consortium.
Sukrisno said that the state-owned coal company has IDR1.5
trillion ($158 million) in cash that is available to finance the
acquisition if it goes through.
The company has also sought a loan from several banks in case it
needs more cash to buy BHP's assets, he added.
-By Linda Silaen; Dow Jones Newswires; 62-21 39831277;
I-Made.Sentana@dowjones.com