# Press Metal closes $300m facility for 20% stake in Bintan Alumina Indonesia

Press Metal closed a $300 million dual-tranche Islamic financing to partially back its acquisition of a 20% stake in Bintan Alumina Indonesia (BAI) for $80 million, agreed in November 2019.

- Type: Acquisition
- Announced: 2020-03-25
- Where: Indonesia
- Value: $80.0M
- Status: completed
- Products: alumina
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Press Metal](https://endata.com/companies/46123.md) (acquirer)
- [Bintan Alumina Indonesia](https://endata.com/companies/46124.md) (target)

## Sources

- [txfnews.com](https://www.txfnews.com/news/27983/press-metal-closes-300m-facility-for-stake-in-bai), 2020-03-25: "Press Metal has closed a $300 million dual-tranche Islamic financing to partially back its acquisition of Bintan Alumina Indonesia (BAI)."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.