en.malanginspirasi.com — An entity controlled by Indonesian tycoon Andi Syamsuddin Arsyad, widely known as Haji Isam, has offered about $3 billion in cash for a 62 percent stake in coal mining giant PT Bayan Resources Tbk (BYAN), Bloomberg News reported on Wednesday, citing people familiar with the matter.
The acquisition bid targets a controlling interest held primarily by billionaire founder Low Tuck Kwong and his daughter Elaine.
According to the Bloomberg report, the $3 billion valuation represents a steep discount compared to Jakarta-based Bayan Resources’ current market capitalization, which sits at roughly $26 billion—reflecting an approximate 80% haircut off its public market value.
Sources, who asked not to be identified because the details remain confidential, indicated that the transaction structure involves partial payment through structured installments rather than a single upfront cash transfer.
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The potential buyout comes amid ongoing consolidation and shifts across Indonesia’s energy and mining sectors. However, representatives for both parties have maintained caution regarding the public speculation.
When previously asked about acquisition interest, Bayan Resources noted in a stock exchange filing that while it was not aware of a formal plan by Haji Isam, its controlling shareholders acknowledged that “they may from time to time consider various opportunities to maximize their investment in the company.”
Bayan Resources Corporate Secretary Jenny Quantero did not immediately respond to requests for confirmation regarding the Bloomberg report.
