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Bumi saga goes on

Indonesia-focused coal miner Asia Resource Minerals (ARM), formerly known as Bumi, has received a potential cash bid from 4.6% shareholder Argyle Street Management in conjunction with Indonesia's Sinarmas group, controlled by the Widjaja family.

ARM shareholders now have two offers to consider as they are shortly to vote on a recapitalisation plan put forward by Nat Rothschild, one of Bumi’s founding investors.

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