Nov 16, 2010

Vallar acquires Berau at Rp540/share

Vallar Plc will pay US$1.58 billion for 75% stake or Rp540 per share in Berau Coal Energy to Bukit Mutiara.
About US$739 million cash consideration for 35% stake of Berau (US$639 million will be paid to Mutiara shortly after the signing of the Berau Transaction with the balance being subject to the escrow arrangement.
About 52.3 million new Vallar Shares, issued at a value of £10.00 per Vallar Share, in consideration for 40% of Berau.

Disclosure: No position at the stock mentioned above.

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