Bakrie Says Bumi’s London Move to Cut Coal Miner’s Debt Costs

Bloomberg.com reports that Bumi Plc ‘s move to London will facilitate getting necessary financing to alleviate debt costs and to increase output.

The story is quoted as saying:

The reason to be in London is also that it’s going to be a lot easier for Bumi to start growing organically,” Bakrie, whose family will control 43 percent of the company, said in an interview yesterday. “In 10 years from now we should be able to be the biggest coal producer. We are not going to stay quiet and do everything only in Indonesia.”

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