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Bumi to claw back $173 mln in deal with Roeslani
June 26, 2013 / 10:17 AM / 4 years ago

Bumi to claw back $173 mln in deal with Roeslani

LONDON, June 26 (Reuters) - Indonesia-focused coal miner Bumi Plc said on Wednesday it had struck a deal with Rosan Roeslani where the former president director of its Berau unit would transfer assets worth $173 million into the subsidiary.

“During the preparation of its annual results for the year ended 31 December 2012, (Bumi) discovered payments totalling $201 million had been made by Berau during 2011 and 2012 that had no clear business purpose,” the group said.

“Conditional upon the transfer by Mr. Roeslani of the assets to Berau and subject to Bumi obtaining all requisite approvals, Bumi and Berau have agreed to waive potential claims that they may have against Mr. Roeslani in respect of the payments.”

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