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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, 28 September 11
ATLAS RESOURCES TO SELL 25% STAKE IN IPO - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, plans to sell 783.33 m ...
Tuesday, 27 September 11
A STRONG REBOUND FOR THE CAPE MARKET - BRS
A strong rebound for the Cape market, as cargoes continued to flow into the market and tonnage remained tight in the Atlantic, according to Barry Ro ...
Tuesday, 27 September 11
INTRACO SEALS US$25.3 MIO ORDER - INSIDER STORIES
Insider Stories reported that, Heavy equipment distributor PT Intraco Penta Tbk (INTA) obtained a US$25.3 million order on hand of heavy equipments ...
Sunday, 25 September 11
THE CHARTER RATES FOR INDONESIA TO INDIA WAS FIRM - VISTAAR
COALspot.com - The freight market moved up sharply with the cape Index up by 11 pct pushing the BDI by almost 6 pct and closing at 1,920 point ...
Saturday, 24 September 11
GOVT PLANS TO RENEGOTIATE ALL CONTRACTS INCLUDING FREEPORT - JP
The Jakarta Post reported that, the Energy and Mineral Resources Ministry has confirmed plans to renegotiate all mining contracts including those wi ...
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- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
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