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Indonesia's Berau Coal shares at 6-mnth high after parent takeover offer

Reuters - UK Focus

JAKARTA, April 16 (Reuters) - Shares (Berlin: DI6.BE - news) in Indonesian coal miner PT Berau Coal Energy Tbk rose to their highest in just over six months on Thursday on a potential takeover deal of its parent Asia Resources Minerals Plc (ARMS).

The stock rose more than 16 percent, extending gains of 8.8 percent gain a day earlier.

Asia Coal Ventures, a vehicle controlled by Argyle and funded by Indonesian tycoon Eka Tjipta Widjaja's Sinarmas Group, said on Tuesday it was considering a 210 million pound ($310 million) cash offer for ARMS. (Reporting by Fransiska Nangoy; Editing by Miral Fahmy)