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Separation Transaction Update

11th Jul 2013 11:56

RNS Number : 1211J
Bumi plc
11 July 2013
 



 

 

 

 

11 July 2013

For Immediate Release

 

 

Bumi plc ("Bumi" or the "Company")

 

Separation Transaction Update

 

Bumi notes the announcement made this morning by PT Borneo Lumbung Energi & Metal Tbk ("Borneo") of the agreement pursuant to which Ravenwood Pte Ltd, an affiliate of Borneo, will acquire the Bakrie Group's indirect 23.8% interest in Bumi, including the fact that this transaction is conditional upon, amongst other things, the approval by the independent shareholders of Bumi of i) the sale to the Bakrie Group of Bumi's 29.2% interest in PT Bumi Resources Tbk ("Bumi Resources"); and (ii) a waiver of the requirement under Rule 9 of the City Code on Takeovers and Mergers for Borneo or any of its affiliates to make a general offer for the shares in Bumi which they do not own.

 

Bumi is not party to discussions between its shareholders.

 

Discussions between Bumi and the Bakrie Group about the sale of the Company's interest in Bumi Resources are ongoing and a further announcement will be made in due course.

 

-ENDS-

 

For enquiries, please contact:

 

Bumi plc

Jayesh Pankhania

+44 (0) 20 7201 7500

 

RLM Finsbury

Ed Simpkins / Charles O'Brien

+44 (0) 20 7251 3801

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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