Tata Power announced plans to spend US$1.1 billion to buy into one of Indonesia’s largest thermal coalmines.
Through an offshore Special Purpose Vehicle, Tata Power plans to buy a 30% equity stake in Indonesian coal producers PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia (Arutmin) and in a related trading company owned by PT Bumi Resources Tbk (Bumi). Holman Fenwick & Willan advised Indonesia’s PT Bumi Resources Tbk.
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