Indonesia’s Bakries Seek Exit From Venture With Rothschild
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Indonesia’s Bakrie family, founders of a palm oil-to-property-empire in 1942, offered to buy back coal assets it helped bring to the London stock market with Nathaniel Rothschild to end a yearlong dispute.
The proposal would split Rothschild, 41, from the Bakries and effectively dissolve a $3 billion venture agreed in 2010 that married a centuries-old British banking dynasty with one of Indonesia’s most-powerful families. London-based Bumi Plc, whose board met in Singapore today, last month started investigating “potential financial and other irregularities” at PT Bumi Resources, the Bakrie-backed Indonesian coal company.