The powerful Indonesian Bakrie family said Friday it would start the process of divorcing from London-listed miner Bumi Plc after winning a crucial shareholder vote over bitter rival Nathaniel Rothschild. Shareholders shot down a proposal by Rothschild to regain control of the firm in an extraordinary meeting Thursday in London, allowing the Bakries to follow through with their plan to exit the firm and keep their lucrative coal assets.

British financier Nathaniel Rothschild lost Thursday his battle for control of Bumi Plc, with plans by Indonesia's powerful Bakrie family to pull out of the London-listed coal joint venture to proceed. Rothschild's motions to take control of the board were rejected by shareholders at an extraordinary meeting.

Indonesia's powerful Bakrie family has reached an initial deal to withdraw from London-listed coal firm Bumi Plc, a Bakrie spokesman said Wednesday, ahead of a crucial general meeting. The Bakrie Group has been in boardroom tussles with British financier Nathaniel Rothschild over control of the company and its lucrative coal assets in Indonesia since soon after the joint venture was set up in mid-2011. "This agreement is a significant step forward in the process of unwinding our interest in Bumi Plc," group spokesman Chris Fong told AFP.

By Clara Ferreira-Marques LONDON, Jan 22 (Reuters) - London-listed coal miner Bumi Plc said an independent probe had not been able to prove misuse of funds at its Indonesian units, as documentary evidence had been obtained illegally and key witnesses had refused to cooperate.