Ancora gets up to 5 pct of Bumi Resources: source Sat Nov 29, 2008 12:02am EST Email | Print | Share| Reprints | Single Page | Recommend (0) [-] Text [+] By Sara Webb JAKARTA (Reuters) - Ancora Capital Management (Asia), an Indonesian private equity firm, has taken a stake of up to 5 percent in coal miner Bumi Resources (BUMI.JK: Quote, Profile, Research, Stock Buzz), worth about $75 million, a person familiar with the situation said on Saturday. Bumi, Indonesia's biggest coal miner, was the prize asset in the diversified Bakrie group, which has been struggling to raise money in order to repay about $1.2 billion of debt at a time when investors are pulling out of emerging markets such as Indonesia amid a global financial crisis and credit crunch. Late on Friday night, the Bakrie group announced that most of its short-term debt problems had been settled following a deal with Indonesian private equity firm Northstar Pacific. Patrick Walujo, Northstar's founder, said the investment firm would take over a "significant" chunk of the $1.2 billion owed by the Bakrie group in a bid to convert it into shares in Bumi. Separately, Ancora is taking over Bumi shares that had been held by JPMorgan as collateral against a loan of $70-100 million, the person familiar with the situation told Reuters. Ancora, which is focused on investing in Indonesia's natural resources sector and infrastructure, was set up earlier this year by Gita Wirjawan, the former head of JPMorgan's (JPM.N: Quote, Profile, Research, Stock Buzz) Indonesian business, and raised about $300 million to invest. Bumi controls two major coal mines, PT Kaltim Prima Coal and PT Arutmin Indonesia, located in Indonesia's resource-rich East Kalimantan province. Both mines produce high quality coal used in power plants. The coal-mining firm aims to sell 60 million tonnes of coal this year, or around a quarter of Indonesian output. Bumi was briefly the biggest firm by market capitalization on the Indonesian bourse when its share price peaked in June. But concerns over the Bakrie group's debts, coupled with the retreat in commodity prices and global market sell-off, knocked Bumi's share price down from an all-time high of 8,750 rupiah to a 2009 low of 640 rupiah in November, or less than one-tenth of the peak value. Bakrie & Brothers (BNBR.JK: Quote, Profile, Research, Stock Buzz), the listed holding company, is controlled by the family of Indonesia's chief social welfare minister Aburizal Bakrie, and has interests in palm oil, property and telecoms. The group borrowed heavily to finance an aggressive expansion, using shares in Bumi as collateral. As Bumi's stock plunged, some creditors started to sell off shares in Bumi that had been held as collateral, depressing the share price even further, brokers said. Bumi shares on Friday closed at 1,010 rupiah, up 9.8 percent on the day. (Editing by Tomasz Janowski)
________________________________ From: jsx_consultant <[EMAIL PROTECTED]> To: obrolan-bandar@yahoogroups.com Sent: Saturday, November 29, 2008 8:01:58 PM Subject: [obrolan-bandar] Re: MACQUARIE how will the dice roll for bakrie? (BUMI) --- In obrolan-bandar@ yahoogroups. com, bobby gosal <bobby_gosal@ ...> wrote: > Orang engga henti henti nya mencoba menghitung nilai BUMI... Menurut pak Kidod saham BUMI di BNBR ada 19,27%, coba bandingkan ama hitungan Macquairie: - Dari pdf kiriman Pak Bobby Gosal: Menurut Macquire saham BUMI yg di repo di Oddickson ada $334 juta dollar per tgl 21/11 dengan menggunakan Last Traded price yaitu tgl laporan Macquire. Pada tgl 21/11 harga BUMI close di 710 perak. - Jadi jumlah lembah saham BUMI yg ada di Oddickson = $334 x kurs 12000/ 710 = 5,65 juta lembar atau 29%. Mana yg benar 19,27% atau 29% ?. Sepertinya yg lebih masuk akal adalah 19,27% Jadi sesudah Deal Nortstar: - Northstar punya BUMI 19,27% - BNBR punya sekitar 15% Status REPO BUMI: - Nortstar repo BUMI 19,27% ex punya BNBR dan - BNBR masih punya repo BUMI 7% dicreditur lain selain Oddickson. Jadi STATUS Repo BUMI sesudah deal Nortstar sebenarnya belum berubah. Bener engga pak Halim ?. Pak Halim gimana nasib harga BUMI sesudah CA Northstar ?. Pake TA atau CA ?. > Pamer gaya dengan skin baru yang keren. Coba Yahoo! Messenger 9.0 baru sekarang! http://id.messenger .yahoo.com >
