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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Sunday, 18 September 11
THE COAL IMPORTS TO INDIA, OUT OF INDONESIA LIKELY TO PICK UP - CAPT. REDDY
COALspot.com - The freight market continued the upward trend until midweek almost touching 2,000 points, however towards second half of the week the ...
Saturday, 17 September 11
GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE FOR US$ 1.26 BILLION
COALspot.com - GVK group, India’s leading infrastructure developer,confirmed arrangements for the acquisition of a strategic part of large, hi ...
Saturday, 17 September 11
INDIA'S GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE PROJECTS IN AUSTRALIA
COALspot.com - GVK group, India’s leading infrastructure developer, today confirmed arrangements for the acquisition of a strategic part of la ...
Friday, 16 September 11
DELTA DUNIA MAKMUR REMOVED 30.9 MILLION BCM OVERBURDEN IN AUGUST 2011
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 30.9 million bcm (+13.2% YoY) overburden in August 2011 while coal production was at 2.9 ...
Thursday, 15 September 11
RUSSIAN COAL EXPORTS UP 10.9% IN JAN-AUG TO 71.50 MILLION TONS - PORT NEWS / HELLENIC SHIPPING
Port News reported that, Coal exports from Russia in January-August 2011 grew by 10.9% compared with the same period last year, to 71.50 million ton ...
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- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Planning Commission, India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- The University of Queensland
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- White Energy Company Limited
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- CNBM International Corporation - China
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