Vallar Says Expects to Complete Bumi Stake Increase in May
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Vallar Plc, Nathaniel Rothschild’s investment vehicle, expects to complete a stake increase in PT Bumi Resources of “close to” 50 percent through a share-swap deal by May 10, the company’s executives said.
Vallar, which completed the acquisition of a 25 percent stake in Bumi last month, will offer to swap 57.7 shares of Indonesia’s largest coal producer for a share of Vallar, Daren Morris, a co-founder of Vallar, said in Jakarta today.