Path to Sever Ties with Bakrie Family Clean for Bumi

Bloomberg reported that Bumi PLC’s recent blocking of Nathaniel Rothschild’s attempt to seize control of the board opens the door to severing ties with the Bakrie Family.

As quoted in the market report:

Rothschild, scion of a centuries-old banking dynasty who sought backing to remove the chief executive officer, chairman and the majority of the directors, had his proposal rebuffed by shareholders at a London meeting yesterday. The 41-year-old financier said the board had failed shareholders as he battled the Bakrie family over control of Bumi after creating the coal venture with them in a $3 billion deal in 2010.

To view the whole Bloomberg report, click here.