It is reported that Global financial investor Nathaniel Rothschild will have control of 30% of Indonesia coal production through acquisition of the country largest coal miners.

London based Vallar Plc which is controlled by the Rotchschild family has signed a deal to take over 25% stake in PT Bumi Resources and 75% of PT Berau Coal.

Bumi Resource which is owned by the Bakrie family is the country's largest coal producer and Berau is the fifth largest.

Rotchschild invested USD 3 billion in the two companies a bold move that would make him a major player in the country energy sector. In exchange under the reverse takeover deal on Tuesday, the Bakrie Group and Berau Coal would respectively own 43% stake and 24.9% stake in Vallar.

Mr Bobby Gafur S Umar president of Bumi Resources said the deal would boost the assets of the Bakrie group and open access for it to the London market. He said that this is a win-win deal and they have beautiful assets and we get access to the capital market.”

(Sourced from www.tradingmarkets.com)