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The Financial Times quoted an unnamed source close to the company as saying that any further acquisitions would come after Vallar became a major Indonesian coal group.
Vallar’s float in July raised £707.2 million of gross proceeds. Four months later Rothschild revealed the company would take control of Indonesian coal producers PT Bumi Resources and PT Berau Coal in a multi-billion dollar deal expected to close in April.
Indonesia’s fourth-richest man, Aburizal Bakrie, will swap his 25% stake in Bumi for new shares in Vallar as part of the deal, as reported by The Australian in November.
Vallar will also reportedly pay $US3 billion in cash and scrip to buy a 75% stake of Berau and 25% of Bumi.
The Rothschild banking family is set to gain a 34% stake of Bumi, which will get a London listing, while the Bakrie Group will grab 43%.
