Magic circle firm Slaughter and May and Singapore firm KhattarWong are advising Indonesian coal producer PT Borneo Lumbung Energi & Metal Tbk. on a $1 billion acquisition of a stake in mining company Bumi PLC.
Subject to shareholder and regulatory approvals, the acquisition will give PT Borneo a 24-percent stake in U.K.-listed Bumi, which has one of the largest mining operations in Indonesia. The interest being acquired by PT Borneo was previously jointly held by Indonesian conglomerate PT Bakrie & Brothers Tbk. and investment firm Long Haul Holdings Ltd.
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