AP Investment/Medco Energi International $2.1 billion acquisition of Newmont Nusa Tenggara

Overview:

• The joint venture between AP Investment and Medco Energi International has acquired Amman Mineral Nusa Tenggara (previously Newmont Nusa Tenggara  (NTT)) from Newmont Mining Corporation and Sumitomo Corporation for $2.1 billion.
• Aman Mineral Nusa Tenggara is a copper and gold mining company.
• The acquisition was financed through a combination of senior debt granted by the three largest Indonesian state-owned banks, mezzanine debt provided by offshore lenders, vendor financing and sponsor equity. 
• Medci Energi International is a Jakarta-listed oil and gas producer founded by Arifin Panigoro.
• Newmont Nusa Tenggara operates the Batu Hijau copper and gold mine in Indonesia.
• Bank Mandiri, Bank Negara Indonesia and Bank Rakyat Indonesia acted as the senior lenders.

Wai Yee Tsang - Journalist - Asia Pacific