Indika: May Buy Stakes In BHP Indonesia, Berau Coal Projects
28 October 2009 - 6:03PM
Dow Jones News
Indonesian coal producer PT Indika Energy (INDY.JK) may buy
stakes in BHP Billiton Ltd.'s (BHP) Indonesian coal operations and
in local coal company PT Berau Coal, and has interest in "several"
other potential acquisitions in the coal sector, a company
executive said Wednesday.
Indika Vice President-Director Wisnu Wardhana told Dow Jones
Newswires that the company has submitted an expression of interest
in BHP Billiton's Maruwai metallurgical coal project and aims to
submit a bid for a stake. BHP Billiton plans to sell a 25% stake in
Maruwai, which consists of seven coal mine sites in Central and
East Kalimantan provinces, as early as the first quarter of next
year.
He said Indika is still in the running to buy a stake in Berau
Coal and aims to buy as much as 100% of the company. People with
knowledge of the matter have previously said that financial
services company PT Recapital Advisors has been selected as the
preferred bidder for Berau Coal ahead of Indika and other bidders.
A decision on the sale is expected this week.
-By Linda Silaen, Dow Jones Newswires; 62 21 3983 1277;
Reuben.Carder@dowjones.com