Financier Nat Rothschild is forming a rival consortium, including a contender for Indonesia's presidency, to launch a counter-offer to the $1.4 billion Bumi Plc buyout proposal from the Bakrie family, in a deal that would pour fuel on an already smoldering relationship.
Sources familiar with the matter said Rothschild - who set up Bumi with the Bakries two years ago - was in talks with various partners including former general and current presidential candidate, Prabowo Subianto, to thwart the Bakrie plan and take control of parts of the coal empire.
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The bid would pit two rivals for Indonesia's presidency in 2014 against each another and involve a scion of one of Europe's most famous banking families.
Below are details of the three men's involvement in Indonesia and the companies at stake.
KEY COMPANIES * London-listed Bumi Plc, a coal venture formed by Indonesian Bakrie and Rothschild, owns a 29 percent stake in Asia's biggest thermal coal exporter PT Bumi Resources Tbk and an 85 percent stake in Indonesia's fifth-biggest coal producer PT Berau Coal Energy Tbk. * The Bakrie Group and Rothschild conducted a $3 billion reverse takeover in November 2010 when Rothschild's shell company Vallar agreed to buy Berau Coal and a stake in Bumi Resources. * Bumi Resources controls two of Indonesia's prime coal assets: PT Kaltim Prima Coal, in which it has a 65 percent stake, and PT Arutmin Indonesia with a 70 percent stake. * Berau Coal Energy owns a 90 percent stake in PT Berau Coal, a large coal mine operation in Kalimantan island. * The Bakrie Group owns a 23.8 percent stake in Bumi Plc. Its Indonesian partner Samin Tan owns a 23.8 percent stake. Tan become a Bumi shareholder in January 2012 after paying $1 billion to the Bakrie Group. - Indonesia's Bukit Mutiara, a former owner of Berau Coal, owns a 13 percent stake in Bumi Plc while Rothschild owns another 11.9 percent stake. - The Bakrie Group was founded in 1942 by the late Sumatran businessman Achmad Bakrie.
BAKRIE * Achmad Bakrie had four children, Aburizal, Roosmania Odi, Nirwan Dermawan and Indra Usmansyah. * Aburizal Bakrie is chairman of Golkar Party, Indonesia's second-biggest political party. The party has selected him as its candidate for the 2014 presidential election. * Nirwan Dermawan runs the Group's business interests while Indra Usmansyah is co-chairman of Bumi Plc.
PRABOWO * Prabowo Subianto, 61, is a former Indonesian general who was once married to a daughter of late dictator Suharto. Prabowo's father was one of Indonesia's most prominent economic planners, Sumitro Djojohadikusumo. * Prabowo told Reuters recently the U.S. still refuses to grant him a visa because of allegations he was involved in riots in the late 1990's. * Prabowo owns a group of companies under Nusantara Group with interests from pulp and papers to coal mining. * The Nusantara group was believed to be behind the company that is in an ongoing $2 billion legal battle with London-listed Churchill Mining over a large coal reserve in East Kalimantan. * Prabowo says he plans to run as a presidential candidate in 2014 from his political party Gerakan Indonesia Raya (Gerindra).
ROTHSCHILD * Rothschild, 41, is a British-born financier, part of the Rothschild banking family. He is the only son of the fourth baron Rothschild. * Rothschild began his career at Lazard Brothers in London but later moved to New York, eventually becoming co-chairman of hedge fund Atticus Capital. Atticus closed in 2009. * He went on to set up two investment vehicles - Vallar and Vallares. Vallar became Bumi after the Bakrie family deal in 2010. Vallares is now Genel Energy. * Famous for his youthful partying and bulging contact-book, Eton and Oxford-educated Rothschild is based in the Swiss ski resort of Klosters, but spends almost a month a year on his private jet. * This year's Sunday Times Rich List puts his personal fortune at 1 billion pounds, making him one of Britain's 100 richest people - ranking above his father. * He was co-chairman of Bumi Plc until a board shake-up in March. He resigned from the board last month.
(Writing by Janeman Latul and Clara Ferreira-Marques; Editing by Matthew Bigg and Ryan Woo)