Nat Rothschild rejected by Bakrie partners

http://www.chicagotribune.com/business/sns-rt-us-rothschild-bakrietre7ac004-2...
JAKARTA/LONDON (Reuters)- It was supposed to be a union of two legendary business dynasties, one West, one East. Nathaniel Philip Rothshild, the 40-year-old scion of the storied European banking family, forged a deal a year ago with the Bakrie brothers, one of Indonesia's mightiest business families, to create an international coal-mining titan.

That deal last November seemed incredible from the start; the dream of creating the world's biggest thermal coal company, with mines in Indonesian Borneo, and aiming to be one of the biggest listed companies on the London exchange. Now a year later the partnership could be on the brink of collapse.

This week Rothschild called for a "radical cleaning up" of the balance sheet and corporate culture at the Bakrie brothers chronically indebted flagship, PT Bumi Resources, his partner in the London-listed coal venture, Bumi Plc.

In a letter written to Ari Hudaya, Chief Executive of both Bumi Plc and Jakarta-listed PT Bumi Resources, Rothschild said the partnership's goal of entering the FTSE-100 in 2012 was still attainable. But he was not satisfied with progress so far with his Indonesian partners, who remain "over-leveraged," which was a major factor in the "corporate governance discount" on the Jakarta's firm's stock price.

The leaked letter was a stunning rebuke to top Bakrie lieutenant Ari Hudaya. Hudaya's dual role as CEO of both the Bakries' PT Bumi Resources and the Bumi Plc joint venture required "closer evaluation and scrutiny," Rothschild wrote in the letter, published on the Financial Times website.

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[flappospammo]

dormant for 200 years - like vampires ???....

[Rememberthename8]

@TheTime4solutions Wow you couldve done better than that... rly?

[YumiOfLyoko]

Reptilian!

[americaisbacktrump]

See how the modern young Marxist super-rich like to affect lower-class accents

[civoc1]

one Canadian investor as partner? Lol, fits the cover of Mossad and he probably knows

aaargh.codoh.info/fran/livres1­1/OSTROVbywayofdecep.pdf

[Rememberthename8]

@TheTime4solutions Okay, link me to something. I agree - fuck the Rothschilds, I just thought your comment was funny.

[TheTime4solutions]

@Rememberthename8 Ok check out the Rothschild revenge upon Russia. Every member of the Romanov family wiped out from a Ratchild vendeta. Did i need to do better than that.

[TheTime4solutions]

Beware of the rath of Rotchild.