Last week, over four days, Bumi Resources made three purchases of Indonesian coal miners, which analysts quickly complained were too expensive and also too closely connected to BumiÆs principal shareholder. It paid a total of about $564 million for majority stakes in Pendopo Energi Batubar, Fajar Bumi Sakti FBS and Darma Henwa.
The price paid for Danwa Henwa,...
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