SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
for the period ended 10 October, 2003
BP p.l.c.
(Translation of registrant's name into English)
1 ST JAMES'S SQUARE, LONDON, SW1Y 4PD, ENGLAND
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F |X| Form 40-F
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Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes No |X|
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October 10, 2003
BP COMPLETES SALE OF KALTIM PRIMA COAL STAKE TO
PT BUMI RESOURCES
BP announced today that it has completed the sale of its 50 per cent interest in
the Indonesian coal mining company PT Kaltim Prima Coal (KPC) to PT Bumi
Resources for $250 million in cash including assumed debt.
PT Bumi Resources, a publicly quoted Indonesian company, has also completed an
identical deal with Rio Tinto for their 50 per cent interest in KPC and is
therefore now the sole owner of KPC.
The completion of the KPC sale means that BP no longer has any coal interests,
its other coal operations having been sold in 1989-90.
Notes to Editors:
- KPC operates a world-class coal mine located near Sangatta in East
Kalimantan, Indonesia, which produces around 18 million tonnes of steaming coal
per annum.
- KPC directly employs about 2,700 people and contributes around $450
million each year in export revenue to Indonesia.
- BP's advisors on the transaction were JP Morgan (financial) and
Linklaters (legal).
Further information: BP Press Office, London, tel: +44 (0)207 496 4358/4708
- ENDS -
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
BP p.l.c.
(Registrant)
Dated: 10 October, 2003 /s/ D. J. PEARL
..............................
D. J. PEARL
Deputy Company Secretary