Newspaper article The Evening Standard (London, England)

Rothschild Digs in for His First Takeover in Overseas Mining

Newspaper article The Evening Standard (London, England)

Rothschild Digs in for His First Takeover in Overseas Mining

Article excerpt

Byline: Simon English

NAT Rothschild's plan to reap riches from investments in overseas mining operations began to take shape today, when his Vallar takeover vehicle unveiled its first deal.

Bumi Resources and Berau Coal Energy, the first-and-fifth-biggest coal producers in Indonesia, are reversing into Vallar in a cash and shares deal valued at $3 billion ([pounds sterling]2.5 billion).

The deal brings together three wealthy families with a rich tradition of dealmaking: the Bakries, Rothschilds and the family of Rosan Roeslani from Recapital, which is selling the 75% stake in Berau.

Vallar, which floated in July raising [pounds sterling]700 million from the City, will now become eligible to join the FTSE 100 once the paperwork is completed, probably no later than April. Its name will change to Bumi.

Rothschild, a scion of the famed banking dynasty, and his business partner James Campbell think that commodity prices will keep on rising as demand for resources grows, hence the formation of Vallar. …

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