Bakrie assumes US$180m Domba Mas debt

JAKARTA: Bakrie Sumatera Plantations signed a deal with Bank Mandiri to take over delinquent Domba Mas Group debt worth US$180 million, a lender statement said.

All parties agreed to settle the debt obligation at commercial interest rates between a period of 18 months and seven years, Mandiri director Thomas Arifin said.

The debt takeover is part of Bakrie Sumatera’s plan to acquire Domba Mas, a firm focused on oleochemicals and palm oil. (est)