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Rabu, 27 April 2011

BUMI Cancels Divestment of Gallo Oil - The Indonesia Today

Bumi Resources (BUMI) has on April 21 canceled divestment of 20% shares in Gallo Oil (Jersey) Ltd to Florenceville Financial Ltd.

BUMI told the Capital Market Supervisory Agency (Bapepam) Monday (Apr 25) that both parties have mutually agreed to cancel the transaction signed on December 28, 2009.

BUMI provided no explanation on reasons behind the cancelation.

BUMI also informed Bapepam about its plan to accelerate payment of up to US$1 billion of debts this year. The company prioritizes repayment of US$375 million Notes in August 2011 and the first installment of CIC facility of US$600 million in October 2011.

BUMI ended Tuesday's trading flat at Rp3325 with 47.9 million shares exchanged hands.
Posted by Saham Pilihan at 06.02

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