Indonesia-listed coal miner PT Bumi Resources Tbk has completed its acquisition of Australian-listed Loyal Metals Ltd (LLM) for A$79.1 million ($56.95 million). Separately, Indonesia-listed data centre operator PT Indointernet Tbk (Indonet) has secured a $530.2-million credit facility to fund the development of a data centre project.
Bumi Resources completes $56m acquisition of Loyal Metals
Indonesia-listed coal miner PT Bumi Resources Tbk has completed its acquisition of Australian-listed Loyal Metals Ltd (LLM) for A$79.1 million ($56.95 million).
Bumi said in a material information disclosure to the Indonesia Stock Exchange (IDX) on Monday that its wholly owned Australian subsidiary, Bumi Resources Australia Pty Ltd (BRA), completed the acquisition on September 4.
BRA acquired 175.71 million Loyal shares, representing 100% of the Australian company’s issued shares. The transaction was valued at 1 trillion rupiah (A$79.1 million), according to Bumi.
The acquisition was completed through a scheme of arrangement approved by the Supreme Court of Western Australia. Loyal said the scheme had been implemented on September 4, with shareholders receiving the agreed consideration.
The deal brings Loyal under Bumi’s full ownership through BRA. Bumi’s disclosure did not provide further details on how it plans to
develop Loyal’s assets following the acquisition.
Loyal’s shares had been suspended from trading on the ASX since August 25 as the transaction progressed. The company subsequently applied to be removed from the ASX official list.
The ASX confirmed on Monday that Loyal would be delisted at the close of trading on September 7 following the completion of the scheme.
Loyal’s shareholder filings also show that Harvest Lane Asset Management and its associated entities sold 27.93 million shares under
the scheme at A$0.45 each, ceasing to be a substantial holder on August 28.
Loyal was advised by Steinepreis Paganin and Canaccord Genuity on the transaction. Steinepreis Paganin also advised LLM and its subsidiary Highway Copper Gold Pty Ltd on the acquisition of the Highway Copper Gold Project.
Indonet secures $530m financing for data centre expansion
Indonesia-listed data centre operator PT Indointernet Tbk (Indonet), which is controlled by Digital Edge (Hong Kong) Ltd, has secured a $530.2-million credit facility to fund the development of a data centre project owned by its subsidiary PT Digital Gayana Ekaprana (DGE).
The financing was signed on September 2, according to a material transaction disclosure filed with the IDX. DGE is the borrower, while Indonet and another subsidiary, PT Ekagrata Data Gemilang (EDG), are providing security for the facility.
The facility has a five-year tenor from the date of its initial drawdown and carries interest at Term SOFR (Secured Overnight Financing Rate) plus a margin of 2.5% to 2.6%.
The lenders include Bangkok Bank, Bank of China (Hong Kong)’s Jakarta branch, Clifford Capital Credit Solutions, First Abu Dhabi Bank’s Singapore branch, MUFG Bank’s Jakarta and Singapore branches, Bank BNP Paribas Indonesia, Bank CIMB Niaga, Bank DBS Indonesia, Bank Permata, and Bank OCBC NISP.
The financing will be used to develop DGE’s data centre project as demand for data centre and digital infrastructure services
increases, according to Indonet.
The loan is secured against DGE’s data centre project as well as Indonet’s and EDG’s shares in DGE. DGE is subject to restrictions under the financing agreement, including on taking on certain loans or guarantees, selling or transferring assets, entering into mergers or joint ventures, acquiring subsidiaries and changing its principal business.
Indonet said the transaction is classified as material because its value exceeds 50% of the company’s equity. Its equity stood at 1.83
trillion rupiah as of December 2025. The company said the transaction would not have a material impact on its financial condition, apart from DGE’s periodic interest and principal payments.
The guarantees provided by Indonet and EDG also make the deal an affiliated transaction, although the company said it does not involve a conflict of interest.
