BUMA’s owners have put it for sale to the private equity firms in Asia in May 2009, after failing to sell it in 2007, said the sources familiar to the deal.
The company informed that the transaction is scheduled to be completed by the fourth quarter of 2009, subjected to the regulatory and the shareholder approval.
The company has appointed Barclays Capital to advise on arranging the financing related to the acquisition.
Indonesia, is a major thermal coal exporter, would produce approximately 240 million tonnes of coal this year, when compared to 238 million tonnes in 2008.
