May 10, 2010

Jusuf Merukh & Avocet acquisition deal

Merukh Enterprises, owned by Indonesian tycoon Jusuf Merukh, via PT Lebong Tandai, today reveals that it has acquired 100% stakes at some mining companies in Indonesia and Malaysia owned by Avocet Mining worth US$250 million.
"We have passed due diligence," said Rudy Merukh, CEO Merukh Enterprises. In Indonesia, Avocet Mining owns 100% stakes in PT Avocet Mining Services, 80% stakes in PT Avocet Bolaang Mongondow, and 75% stakes in PT Gorontalo Sejahtera Mining.
Merukh Enterprises is a diversified mining companies controlled by Jusuf Merukh. It owns 20% stakes in gold mining company PT Newmont Nusa Tenggara via PT Pukuafu Indah. Pukuafu also holds 20% stakes in PT Newmont Minahasa Raya.
PT Lebong Tandai, subsidiary of Merukh Enterprises, operates gold mine in Lebong, Tandai, Bengkulu, Sumatra, and has acquired some mining companies from Avocet.
Via PT Merukh Flores Coal, Jusuf Merukh owns coal mining company in Ngada, Nusa Tenggara. PT Merukh Ama Coal controls coal mining in Batu Licin, South Kalimantan, and owns stakes in PT Dirgantara Air Service and PT Sabang Merauke Raya Air Charter. PT Merukh Lembata Copper owns copper and gold mining in Lembata, Nusa Tenggara Timur. 

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