Nov 29, 2010

Indika Energy to acquire Mitra Bahtera

Integrated coal company PT Indika Energy Tbk (INDY) might acquire 51% holding in a leading logistic provider PT Mitra Bahtera SegaraSejati (MBSS).
Several sources familiar with the matter said by acquiring MBSS, Indika will be fully integrated coal mining company.
"Indika controls 46% holding in coal miner PT Kideco Jaya Agung. The acquisition will support coal transportation business," the sources told Insider Stories.
Retina Rosabai, Indika's Vice President of Investor Relations, declined to comment on the matter.
MBSS is providing coal tugs and barges operators in Indonesia. The company provides one stop fully integrated solutions to the logistical needs of the Indonesian Coal industries ranging from shore based barge loading facility to the offshore loading of the ocean going vessels.
The services range from ship management, ship registration harbor assist tugs, LCT, floating cranes, floating terminals, manning services, marine consultancy, agency services, transshipment activities, domestic and international trade & marketing. 

Disclosure: No position at the stock mentioned above.  

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