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Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal companies through Vallar Plc, allowing the nation’s biggest producer of the fuel to list in London.
Bloomberg further reported, Vallar will buy 75 percent of PT Berau Coal Energy and 25 percent of PT Bakrie & Brothers’ PT Bumi Resources in a cash and stock transaction, the company said today in a statement. Bakrie Group will be the largest combined shareholder in Vallar -- to be renamed Bumi Plc -- and have the right to nominate the chairman, chief executive officer and chief financial officer.
The reverse takeover, which gives control to the holders of the acquired company, will create an Indonesian “resources champion,” combining the nation’s largest coal producer, Bumi, and fifth-largest, Berau, according to Vallar. Rothschild, former co-president of New York hedge-fund firm Atticus Capital LLC, raised 707.2 million pounds ($1.13 billion) in Vallar’s initial public offering in London in July and had considered deals of as much as $5 billion.
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“This acquisition should be well received by investors since this is a good price for high-quality coal assets,” Liberum Capital analysts wrote in a report. “A London-listed, large scale, pure play Indonesian coal play should offer a unique commodity exposure and have strong investment appeal.”
Bumi Plc will target coal output of 140 million metric tons a year and be the largest thermal-coal supplier to China, Rothschild said on a conference call.
Mandatory Offer
Vallar, whose London-traded shares were suspended today, plans to make a mandatory offer to Berau’s minority shareholders and increase its ownership in Bumi in 2011, it said. Bakrie Group will hold 43 percent of Vallar stock after the deal.
The planned London listing, the first for an Indonesian company, “will enhance our international profile, provide a currency and platform for development in the region and put us in a much stronger position to build on the organic growth that our combined assets already provide,” Indra Bakrie, proposed chairman of Jersey, Channel Islands-based Vallar, said in the statement.
The “remarkable” deal is a “win-win” for shareholders, said Rothschild, who in April ranked seventh in the Sunday Times “Rich List,” an annual estimate of net worth of the 25 wealthiest U.K.-based hedge-fund managers.
Bumi Production
Indonesia is Asia’s biggest exporter of thermal coal, used in power stations. Bumi Resources, the country’s largest coal miner by volume with a market value of 54 trillion rupiah ($6 billion), produced 60 million tons and sold 58 million tons of the fuel last year.
The Jakarta-based company is a unit of Bakrie & Brothers, an investment company controlled by the family of billionaire and politician Aburizal Bakrie, Indonesia’s fourth-richest man, according to Forbes Asia. Sovereign wealth fund China Investment Corp. bought $1.9 billion of debt from Bumi in September 2009.
Bumi shares reversed losses after today’s announcement, rising 2 percent to 2,600 rupiah at 3:40 p.m. Jakarta time. The stock has climbed 7.2 percent this year, compared with a 44 percent gain in the benchmark Jakarta Composite Index.
Berau, with a market value of 18.2 trillion rupiah, is 75 percent owned by PT Bukit Mutiara, a unit of PT Recapital Advisors. Bukit Mutiara will retain 15.3 percent after the sale, Berau said in a statement.
Berau expects to produce 17.9 million tons of coal this year, rising to as much as 22 million tons by 2012, President Director Rosan Roeslani said Aug. 19. The Jakarta-based company raised $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
Tuesday, 01 November 11
DRY BULK MARKETS CORRECTION SPILLS OVER ONTO NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is losing steam, as evidenced by the falls experienced last week, which were also apparent at the beginning of the new week. A l ...
Monday, 31 October 11
CHINAS HUNGER FOR INDONESIAN COAL AT THREE YEAR-HIGH AS WINTER NEARS - JOSEPH KIRSCHKE
COALspot.com - Chinese demand for power-station coal from Indonesia has soared to its highest level in three years, as central heating plants and po ...
Saturday, 29 October 11
ATLAS RESOURCES SEALS US$95 MIO LOAN - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, has secured US$95 mill ...
Saturday, 29 October 11
INDONESIA TO INDIA FREIGHT LIKELY TO REMAIN SOFT
COALspot.com - The market continued to slow down and all segment were down this week.
The biggest drop was in the Cape Index down by 8.19 pct&nbs ...
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- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
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