Tag: Muamalat

M&A: Freeport, Muamalat, Asuransi Adira

The Indonesian Government, through Ministry of Energy & Minerals Resources (ESDM) has finally signed the sales and purchase agreement (SPA) for a complex US$3.85 billion share purchase deal involving Freeport McMoRan, Rio Tinto and state-owned miner PT Indonesia Asahan Aluminium (Inalum). This is a follow up of the head of agreement (HoA) signed by Government and Freeport-McMoRan Inc (FCX) on August 12, 2018. The ownership divestment of Grasberg is one of the steps Freeport must take as it transfers rights to the mine from its current operating contract to special mining rights.

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PKPU for Sumatera Persada Energi

A new lawsuit for Suspension of Debts Payments (PKPU) was filed against PT Sumatera Persada Energi (SPE), the subsidiary of PT Asiabumi Petroleo. The lawsuit is the second lawsuit for SPE in the past two years. In the first PKPU lawsuit in 2014, the oil and gas company managed to escape bankruptcy after its creditors agreed on the peace proposal offered. For this latest lawsuit, the process has begun. If the creditors can prove to the court that SPE indeed owe debts, SPE must once again undergo the process of debt restructuring.

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