Apr 8, 2011

Vallar closes Berau Energy takeover

PT Bukit Mutiara and Bakrie Group today just transferred 52.35 milliot lots or 26.17 billion shares in PT Berau Coal Energy Tbk (BRAU) to Vallar Plc at the level price of Rp540 per share, representing of Rp14.13 trillion deal.
The shares transfer today was done via crossing transaction at Indonesia Stock Exchange. JPMorgan Securities bought the shares from Reliance Securities.
Based to the agreement between Vallar, Bukit Mutiara, and Bakrie Group, Vallar swapped 40% stake in Berau with Bakrie Group and the remaining stake was purchased from Bukit Mutiara at Rp6.59 trillion.

Disclosure: No position at the stock mentioned above.

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