Jul 10, 2011

Darma Henwa disposes Coal Vista

One of Indonesia's coal contractor PT Darma Henwa Tbk (DEWA), that is owned by PT Bumi Resources Tbk (BUMI), via its subsidiary dubbed Prove Energy Investments bagged US$80 million from the sale of 100% shareholding in Coal Vista Resources Ltd to Thionvilee Fiancier Ltd.
According to DEWA's Corporate Secretary Didit Setiadi, the company will use the proceed to pay long term debts and finance capital expenditure.
However, the shares sale has not yet put into effect after the company completes the term and conditions. "When the conditions have been fulfilled, we will file the disclosure information," said an official statement to Indonesia Stock Exchange (IDX).

Disclosure: No position at the stock mentioned above.  

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