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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal

Shareholders of Indonesia’s Bumi approve CIC debt deal

Posted on 13 January 2014

Shareholders of Indonesia’s Bumi Resources, Asia’s biggest thermal coal exporter, approved a crucial $1.3 billion debt-for-equity swap deal with China’s sovereign wealth fund, CIC, even without the presence of its largest owner.
Only one-third of shareholders were required to approve the deal after the Indonesian company delayed a previous vote from Dec. 20. “I hope the deal will be final before Chinese New Year, this month,” Andrew Beckham, a director at Bumi Resources, said………………………………Full Article: Source


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