Will Bumi Resources and Energi Mega merge?

Merger plans are likely for the two Bakrie Group-affiliated companies.
March 02, 2006
The possibility of IndonesiaÆs largest coal producer, PT Bumi Resources and oil-and-gas firm PT Energi Mega Persad merging is looking more likely. Earlier this month, the Jakarta stock exchange suspended trading in both companies, after a local publication, Bisnis Indonesia, report they planned to merge.

Neither company will comment û ôat the momentö on the issue. However, Energi Mega Persada, IndonesiaÆs second-biggest publicly traded oil company, says it has appointed PT Ernst Young Advisory Services to study its plan to merge with Bumi Resources.

The merger will only be implemented after we take into consideration the result of our own study and that of the independent firm, as well as the interest of the company...

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