Rothschild family

UPDATE 3-Rothschild defeated in Bumi showdown

Thomson Reuters — Thu, 21 Feb 2013 21:45:34 +0000

Thomson Reuters

* Rothschild had proposed to oust 12 of 14 board members

* Defeated in 19 out of 22 resolutions

* Calls board victory "pyrrhic"

By Clara Ferreira-Marques and Sarah Young

LONDON Feb 21 (Reuters) - Financier Nat Rothschild, co-founder of Bumi Plc, lost his bid to oust the coal miner's board on Thursday, after a public showdown with his one-time colleagues and Indonesia's influential Bakrie family.

Rothschild loses battle for Bumi's board, Bakrie plan to go ahead

Agence France-Presse — Thu, 21 Feb 2013 19:46:24 +0000

Agence France-Presse

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.

Rothschild bid for Bumi seen facing challenge

Agence France-Presse — Tue, 19 Feb 2013 11:00:55 +0000

Agence France-Presse

British financier Nathaniel Rothschild's bid for control of London-listed coal firm Bumi Plc may face a challenge as a major stakeholder sold 13 percent of voting rights ahead of a crucial shareholders' meeting.

Indonesia's powerful Bakrie family has been in boardroom tussles with 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 in a $3 billion deal.

Indonesia's Bakries agree to separation from Bumi

Agence France-Presse — Wed, 13 Feb 2013 14:51:26 +0000

Agence France-Presse

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.

UPDATE 2-Bumi says Indonesia probe fails to prove misconduct

Thomson Reuters — Tue, 22 Jan 2013 10:15:19 +0000

Thomson Reuters

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.

UPDATE 2-Bakries may scrap Bumi exit plan if Rothschild returns

Thomson Reuters — Mon, 14 Jan 2013 17:00:29 +0000

Thomson Reuters

By Clara Ferreira-Marques

LONDON, Jan 14 (Reuters) - Indonesia's influential Bakrie family warned on Monday that it could rethink its proposed exit from Bumi Plc, a coal venture it co-founded with Nat Rothschild, if the financier pursues a planned return to the board.

A Bakrie decision to dig in as a result of changes proposed by Rothschild and his supporters could delay efforts by the coal company's board - and by the financier himself - to split with the Indonesian family and start afresh.