Skip to content
Subscriber Only

Bakries Say They Have All Funds Needed for London Exit

Indonesia’s Bakrie family said it has all the funds needed to meet the original terms of a deal to exit the coal-mining venture it founded with Nathaniel Rothschild, a week after announcing it was $65 million short.

The Bakrie Group informed Asia Resource Minerals Plc it’s now able to raise the entire $228 million required to complete the deal, ARMS, formerly Bumi Plc, said yesterday in a statement. Last week, ARMS said the Bakries were $65 million short of closing the deal originally proposed in 2012.