, Bumi Plc Board Meeting Ends with Swap Shares Proposal
The board of Bumi Plc, one of world’s biggest thermal coal exporters, met in Singapore on the 11th of October to try to resolve internal disputes within the group as well as reverse the drop of the group’s share price. The meeting of the board, however, did not ended with pricking the bubble regarding the uncertain future of the company as analysts had anticipated. Instead, Bakrie family, which co-created the company with British-born financier Nat Rothschild, have proposed a “divorce” with Bumi Plc, offering to take back all Indonesian assets they brought almost two years ago.
