Geo Energy engages legal advisers on potential dispute over proposed acquisition

Singapore

COAL producer Geo Energy Resources on Tuesday said it has engaged legal advisers in response to news reports about a potential dispute over a proposed deal in Indonesia.

Media outlets reported that the current or former ultimate controlling shareholders of Titan Infra Energy (TIE) filed a legal claim in the Jakarta courts against, among others, TIE and its major subsidiaries, Victor Tanuadji, as well as two Geo Energy subsidiaries - Geo Ventures Global (GVG) and Geo Coal International (GCI) - for acting against the interests of TIE shareholders.