Bakries said selling stake in Bumi

Jul 10, 2013, 8:42 AM EDT
Samin Tan, Chairman of coal firm Bumi PLC, arrives at the company's Annual General Meeting (AGM) in central London, on February 21, 2013.
AFP/Getty Images/WILL OLIVER

Indonesia's powerful Bakrie family is looking to sell its stake in the Bumi coal mining group, the company's chairman Samin Tan says. London-listed Bumi was co-founded by the family and financier Nat Rothschild, but for the past two years the Bakrie family has been seeking to withdraw amidst boardroom battles and a probe into financial irregularities. Under one outcome of any sale, SaminTan would acquire the stake, valued at $500 million, increasing his shareholding to 47% from 30%.

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