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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, 21 September 11
2ND ANNUAL SHALE GAS SUMMIT
2nd Annual Shale Gas Summit 31 October – 3 November 2011 JW Marriott Hotel, Hong Kong
According to a recent EI ...
Tuesday, 20 September 11
MTD INAUGURATES ITS COAL TERMINAL IN JAVA ISLAND
Press Release – MTD Group of Malaysia, one of prominent key players in the development of infrastructure in Malaysia, today inaugurated their ...
Tuesday, 20 September 11
DRY BULK MARKET LOSING ITS EDGE, RETREATING AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a surge during the past couple of weeks, which saw Capesize earnings boosted and the BDI (Baltic Dry Index) reaching levels of year high and c ...
Monday, 19 September 11
CHINA IMPORTS MORE THAN 10 MMT INDO COAL IN AUGUST 2011
COALspot.com - Indonesian coal exports dropped 1.642 million tons in August compared to July exports. Indonesia exports 29.662 million tons of coal ...
Monday, 19 September 11
INDOMOBIL ENTERING INTO COAL MINING BUSINESS
COALspot.Com- PT Indomobil Sukses Internasional Tbk, part of, one of Indonesia's largest conglomerates, to enter into mining industry ac ...
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- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- MS Steel International - UAE
- White Energy Company Limited
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
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