Intraco Penta due diligence a coal mine in East Kalimantan
Staff Intraco Penta Finance Director Fred L. Manibog disclose the process of due diligence (due diligence) is targeted to be completed in the next month or in early July at the latest.
"Problem acquisition, we are not likely to choose a company that is not no core bussines with us. If our revenues 80% from coal mine, yes our acquisitions do not far from there," he told reporters on the sidelines of the Investor Day.
Fred did not want to mention the identity of the mining company is being tested thoroughly. However, he revealed the location of the targeted coal mines must be strategic and have a production capacity of at least 100 million tons.
"That certainly has local. IUP [mining license] has not been obtained because it is still due diligance," he explained.
He said the acquisition will be funded from a combination of bonds, bank loans, with a rights issue.
"How large can not be mentioned because it depends on certification. What is clear 75% of it comes from the rights issue," he said.
