Bumi and Energi Mega Persada plan to get hitched

Days after Bumi Resources announces it is selling two key mines, it confirms merger plans with Energi Mega Persada.
Bumi is just booming in the headlines these days.

Days after coal producer PT Bumi Resources announced that it was planning to sell off two of its key mines, it has confirmed that it plans to merge with oil and gas firm Energi Mega Persada.

The expected merger won't take place till July, but the two publicly-listed companies plan to merge through a share-swap mechanism. If approved, the combined company will be No. 2 in its sector, behind state-owned PT Perusahaan Gas Negara.

The merger plan was confirmed to media in Jakarta during a briefing by the company on Tuesday March 21. It comes on the heels of Bumi announcing that it will sell...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222