Rothschild Said to Hire Morgan Stanley for Rival Bumi Plan
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Nathaniel Rothschild, who quit the board of Bumi Plc last month, has appointed Morgan Stanley to advise him on a plan to counter a $1.2 billion proposal for the assets of the London-traded Indonesian coal producer, a person familiar with the matter said.
Rothschild, who founded Bumi with Indonesia’s Bakrie family in 2010, has held talks with potential new investors as well as holders in Bumi, the person said, requesting anonymity as the discussions are private. The plan, which is at an advanced stage, would remove the Bakries, Chairman Samin Tan and PT Recapital Asset Management as Bumi investors, the person said.