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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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Wednesday, 12 October 11
INDONESIAS COAL RUSH - JOSEPH KIRSCHKE
COALspot.com - Last winter, the Chinese government mobilized thousands of soldiers and reservists of the People’s Liberation Army to the port ...
Wednesday, 12 October 11
CAPESIZE - A SURPRISE JUMP IN RATES - BRS
There was a surge across all sizes last week, resulting in the BDI gaining 101 points to end the week at 2,000 points (+5.3%). The BCI reached 3,218 ...
Wednesday, 12 October 11
CAPESIZE FREIGHT RATES BOUND TO RETREAT FROM 2011 HIGHS ON THE BACK OF TONNAGE OVERSUPPLY SAYS BIMCO
According to Nikos Roussanoglou, Hellenic Shipping, with the BDI (Baltic Dry Index) breaking yet another 2011 high yesterday and ending the se ...
Tuesday, 11 October 11
GLENCORE, SUITOR FOR BUMI PLC? - INSIDER STORIES
Insider Stories reported that, the largest commodities trader in the world, Glencore International Plc, is considering an opportunity to acquire a m ...
Tuesday, 11 October 11
RENUKA COALINDO BUYS JAMBI COAL
PT Renuka Coalindo Tbk, formerly PT Allbond Makmur Usaha Tbk plans to acquire PT Jambi Prima Coal holder of mining concession in Pauh, Sa ...
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- Rio Tinto Coal - Australia
- White Energy Company Limited
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
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