Vallar Resources, an investment company listed in London by prominent family member Nathaniel Rothschild four months ago, will take control of the two Indonesian coal producers in a deal expected to close in April, according to The Australian.
Indonesia’s fourth-richest man, Aburizal Bakrie, will reportedly play a leading role in the deal, swapping his 25% stake in Bumi for new shares in Vallar.
Vallar will also reportedly pay $US3 billion in cash and scrip to buy a 75% stake of Berau and 25% of Bumi.
Bumi will get a London listing, the report said, with the Rothschild family set to gain a 34% stake of this company while the Bakrie Group will grab 43%.
"In one swoop we are buying control of the number one and number five coal companies in Indonesia and we are combining them to create the most dominant supplier of coal to China," Nat Rothschild told The Times.
Indonesia is the leading exporter of thermal coal.
