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Shareholders in miner Bumi back split with Bakrie clan

By Clara Ferreira-Marques LONDON (Reuters) - Shareholders in Indonesia-focused coal miner Bumi Plc <BUMIP.L> have backed a planned split with the influential Bakrie family that co-founded the company, an important step towards a long-awaited overhaul of the group. The divorce plan was widely expected to be approved at a shareholder meeting on Tuesday, after co-founder and major investor Nat Rothschild struck a last-minute peace deal with management last week and lent his support.

Tan to buy out Bakries from Bumi Plc in $223 million deal

By Sarah Young, Saeed Azhar and Fathiya Dahrul JAKARTA/LONDON (Reuters) - Indonesian coal tycoon Samin Tan has agreed a $223 million deal to lift his stake in Bumi Plc to over 47 percent, buying out the Bakrie family in the first part of a deal aimed at ending the family's involvement in the troubled London-listed coal miner.

Bakries start Bumi pull-out after victory over Rothschild

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.

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

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 Bakries agree to separation from Bumi

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

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

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.
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