Bumi Plc (BUMI), the Indonesian coal producer at the center of an ownership dispute, is close to a $508 million deal that will see one of its co-founders, the Bakrie family, exit from their investment in the group, according to two people familiar with the situation. As part of the two-stage plan, the Bakrie Group is in talks with Bumi Chairman Samin Tan to sell him their entire 23.8 percent holding in London-listed Bumi, the people said, asking not to be identified as the discussions are confidential. The Bakries would use the funds from the sale to buy back a 29.2 percent holding in PT Bumi Resources, Indonesia’s largest coal exporter, which they sold to Bumi...
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