Oct 3, 2011

Renuka Coalindo buys Jambi Coal

PT Renuka Coalindo Tbk (SQMI) today reported an agreement to acquire the whole stake in PT Jambi Prima Coal. Sharad Ugrankar, Director of Renuka Coalindo, in an official announcement filed to Indonesia Stock Exchange today, said the company has entered into a share sale and purchase agreement with PT Surya Commodities. 
Jambi Prima is a company that is holding a coal business license of concession in Pauh, Sarolangun, Jambi, Sumatra. However, the announcement hasn't declared yet about the acquisition price. 

Disclosure: No position at the stock mentioned above.
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