Posts tagged 'PT Bumi Resources'

The battle for Bumi flares again [Updated]

Masa joined the FT in 2009 and has worked on a number of desks across the paper, including Companies, Markets and Comment. She spent much of 2010 in New York covering the US equity markets. But earlier this year she finally saw the light and moved to Alphaville.

She started her career in the investment banking division at Lehman Brothers in the summer of 2007, timing it perfectly with the beginning of the credit crunch.

She studied philosophy, politics and economics at Oxford University.

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| Feb 28 10:16 | Comment |

We assume that the Bumi survivalists, led by Sir Julian Horn-Smith, never really expected Nat Rothschild to just retire from the scene after suffering defeat in the boardroom power struggle.

And so it has proved. Rothschild is still a subscriber to the Jakata Post and he’s noticed a curious item — the allegedly late disclosure of the sale of a stake in a subsidiary to what is reportedly a Bakrie family entity. Read more

Bumi investors reach EGM accord

Kate is FT AV’s Asia Correspondent. She joined FT Alphaville in mid-2011 after carrying out various roles in the FT’s London office since 2005: interactive editor, companies reporter, and founding editor of the FT’s Energy Source blog.

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| Feb 15 2012 00:54 | Comment |

The Indonesian investors in coal miner Bumi have said UK financier Nat Rothschild can stay on the company’s board, but only if he steps down as co-chairman and stops being a “disruptive influence” over his calls for a shake-up at PT Bumi Resources, a Bumi affiliate, reports the FT. The investors, the Bakrie family and their partner Samin Tan, announced on Tuesday that they had withdrawn their demand for an extraordinary general meeting to remove Mr Rothschild and other directors from the Bumi board. They say they will now pursue their proposed changes at a board meeting scheduled for March 26.

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Rothschild calls for clean-up at PT Bumi

Kate is FT AV’s Asia Correspondent. She joined FT Alphaville in mid-2011 after carrying out various roles in the FT’s London office since 2005: interactive editor, companies reporter, and founding editor of the FT’s Energy Source blog.

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| Nov 10 2011 03:39 | Comment |

Nat Rothschild has criticised the management and corporate governance at PT Bumi Resources, the Jakarta affiliate of London-listed Bumi plc, calling for a “radical cleaning up” of the Indonesian coal company he is trying to transform into a top-tier global miner. The letter, seen by the FT, has raised tensions between the aristocratic billionaire and his Indonesian co-investors, the Bakrie family, who are Bumi’s largest shareholders. Mr Rothschild, who owns 11 per cent of Bumi, which in turn owns 29 per cent of PT Bumi Resources, said his relations with the Bakrie family was good. The Bakries did not sign the letter, which was addressed to Ari Hudaya, a long-time Bakrie family lieutenant who is chief executive of both PT Bumi Resources and Bumi. A spokesman for the Bakrie family said the letter had taken them by surprise. Read more

The new Xstrata? [updated]

| Nov 16 2010 09:56 | Comment |

JPMorgan’s hyperactive M&A banker Ian Hannam has been uncharacteristically quiet over the past few months.

And now we know why. He’s been working on a deal to create a “new London-listed resources champion”. Read more