Bumi
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| Type | Public limited company |
|---|---|
| Traded as | LSE: BUMI |
| Industry | Mining |
| Founded | July 2010 |
| Headquarters | London, United Kingdom |
| Key people | Indra Bakrie, (Chairman) Nathaniel Rothschild, (Co-Chairman) |
| Website | www.bumi-plc.com |
[edit] History
In July 2010 Vallar plc, a Jersey-incorporated investment vehicle founded by Nathaniel Rothschild, raised £707.2 million ($1.07 billion) in an Initial public offering on the London Stock Exchange. Vallar was led by Rothschild and James Campbell, a former Anglo American PLC coal and base metals chief. Together with other members of the Vallar management team, they have invested £100 million in shares of the company. Vallar decided to focus on investments in mining of metals, coal, and iron ore in the Americas, Russia, Eastern Europe, and Australia.[1]In November 2010, Vallar announced it was buying stakes for $3bn in two listed Indonesia thermal coal (used for power stations) producers for a combination of cash and new Vallar shares, with a view to combining them to create the largest exporter of thermal coal to China, India, and the other emerging economies of Asia. The transaction closed as planned on 8 April 2011.[2] In April 2011, Valler plc was renamed Bumi plc.[3]
[edit] Operations
The company has an 85% holding in Berau Coal and a 29.2% holding in Bumi Resources, which owns 87% of Bumi Resource Minerals.[4][edit] References
- ^ "£707M Vallar float exceeds". express.co.uk.
- ^ "Vallar Completes Acquiring 75% Berau, Recapital Says". bloomberg.com.
- ^ "Vallar to Buy Bumi Minerals for $2.1 Billion to Add Deposits". bloomberg.com. Retrieved 30 July 2011.
- ^ Bumi: Home page
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