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Bumi Minerals obtains US$ 198.90 million from divestment of 51% shares of Dairi Prima

18 October 2018 10:29 AM  Company: PT. Bumi Resources Minerals Tbk[BRMS]
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JAKARTA - PT Bumi Resources Minerals Tbk (BMRS) took US$198.90 billion from the divestment of 51% shares of PT Dairi Prima Mineral to NFC Metal Resources Company Limited. The funds are allocated to repay loans to Credit Suisse AG and the acquisition of 20% of PT Aneka Tambang Tbk (ANTM) shares.

Muhammad Sulthon, Director of PT Bumi Resources Minerals Tbk (BMRS), said that the value of the divestment of a 51% stake in PT Dairi Prima Mineral was US $ 198.90 million. "The funds from the divestment shares are used by the company to repay Credit Suisse AG loans and the remainder for the acquisition of the first 20% of Antam's shares," he said as quoted from the press release.

Based on the company's financial statements in the first half of 2018, the Credit Suisse Facility in 2012 amounted to US $ 107.18 million, up from US $ 99.49 million in the same period 2017. The 51% divestment transaction of DPM shares was US $ 198.90 billion. And, the remaining funds from the divestment were US $ 91.71 million.

Mr Sulthon stated that the remaining funds will be used for the first payment of 20% acquisition of Antam's shares, allocating to Dairi Prima Mineral's working capital, Wexler Capital Pte's debt payment plan and expanding the business unit. (LK)

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