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By Wisnu Wijaya
JAKARTA: Companies listed on stock exchanges in London,Vallar Plc, will acquire a 75% stake in PT Bumi Resources TbkMinerals (BRMS) from PT Bumi Resources Tbk in the price ofRp850 per share.
Instead, Vallar will issue exchangeable bonds worth U.S. $ 2.07billion to Bumi Resources, said an official statement on its websitePlc Vallar this afternoon.
Exchangeable bonds that provide interest rate of 2% per year andcan be converted at a price of 15.88 pounds per share to 79million shares with voting rights Vallar.
Acquisition of Earth Minerals held at Rp850 per share price, reflecting a premium of 21.9% of the average closing price of shares in the market namely Earth Minerals Rp697 until May 27, 2011.
Bumi Resources share price fell 0.72% this afternoon to Rp3.425per share, Earth Minerals slid 5.06% to Rp750, and Vallardeclined 0.21% to £ 12,000.
The acquisition is expected to complete Earth Minerals in the third quarter of 2011. (ea)
source: bisnis.com
please give me comments thanks
JAKARTA: Companies listed on stock exchanges in London,Vallar Plc, will acquire a 75% stake in PT Bumi Resources TbkMinerals (BRMS) from PT Bumi Resources Tbk in the price ofRp850 per share.
Instead, Vallar will issue exchangeable bonds worth U.S. $ 2.07billion to Bumi Resources, said an official statement on its websitePlc Vallar this afternoon.
Exchangeable bonds that provide interest rate of 2% per year andcan be converted at a price of 15.88 pounds per share to 79million shares with voting rights Vallar.
Acquisition of Earth Minerals held at Rp850 per share price, reflecting a premium of 21.9% of the average closing price of shares in the market namely Earth Minerals Rp697 until May 27, 2011.
Bumi Resources share price fell 0.72% this afternoon to Rp3.425per share, Earth Minerals slid 5.06% to Rp750, and Vallardeclined 0.21% to £ 12,000.
The acquisition is expected to complete Earth Minerals in the third quarter of 2011. (ea)
source: bisnis.com
please give me comments thanks
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