Bumi Plc, the Indonesian coal producer trying to recover $201 million in missing funds, said it agreed to recover the majority of the money in a deal with former company director Rosan Roeslani. Roeslani, the former chief executive officer of Bumi’s PT Berau Coal Energy unit, will transfer Berau assets and cash valued at $173 million while Bumi will waive potential claims against him over the missing funds, it said yesterday in a statement. The agreement must be approved by shareholders. Bumi has been at the center of a battle for control between co-founders Nathaniel Rothschild, scion of a centuries-old British banking dynasty, and Indonesia’s Bakrie family since the $3 billion deal that...
↧