Medco Energi RM34 trillion acquisition of Amman Mineral

Overview:

• Indonesia-based power company Medco Energi International has acquired a controlling stake in Amman Mineral International, which owns 82.2% of copper and gold mine Newmont Nusa Tenggara.
• The transaction, for a consideration of RM34 trillion ($2.6 billion), is one of the largest acquisitions in Southeast Asia this year.
• Medco Energi International has teamed up with Agus Projosasmito's AP Investment to acquire the stakes, they are financially supported by three Indonesia state-owned banks - Bank Mandiri, BNI and BRI.
• Sidley Austin (Charlie Wilson, Waltter Kulvir) acted for Medco Energi International.

Candy Chan - Journalist - Asia-Pacific