"Indonesia’s Bumi Resources Debt-Share Swap Given All Clear
Jakarta. Bumi Resources, the coal mining unit of the Bakrie Group, has finally secured shareholder approval for its debt-to-share swap deal with China Investment Company after two previous attempts failed.
Dileep Srivastava, a director at Bumi Resources, told reporters that shareholders representing a 63 percent voting rights had agreed to the three resolutions needed to proceed with the CIC deal, in the third extraordinary shareholder meeting seeking approval for the deal."
www.thejakartaglobe.com/business/...bt-share-swap-given-clear/
"On Tuesday, Asia Resource Minerals announced a $500 million deal in which the Bakrie family sold out of the London-listed company and used the proceeds to buy back its share of the Indonesian business, Bumi Resources."
www.smh.com.au/business/world-business/...5.html#ixzz2yBy0Gjmu