Bakrie & Brothers May Raise Stakes in Bumi, Bakrieland
December 11, 2009
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PT Bakrie & Brothers may raise ownership in its units, including Indonesia’s biggest coal miner, PT Bumi Resources, and property developer PT Bakrieland Development.
“Bakrie & Brothers will edge up holdings,” the company’s director, Dileep Srivastava, said on Wednesday. The aim is to get to 21 percent of Bumi and 30 percent of Bakrieland next year, he said.
Bakrie & Brothers’ stake in Bumi fell to 18.6 percent in October from 35 percent last year after a debt restructuring, while holdings in Bakrieland also have fallen .
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