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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Thursday, 15 September 11
INDIAN GOVT PLANS TO DEVELOP 9 NEW MAJOR PORTS BY 2016 - INVEST MONEY / HELLENIC SHIPPING
The government has announced to make a investment of more than Rs 22,000 crore (approximately US$ 4,623,791,331) to develop nine new major ...
Thursday, 15 September 11
BOTSWANA COAL AND ENERGY CONFERENCE 2011
Press Release - Botswana Coal and Energy Conference 2011 | 29-30 November 2011 | Gaborone. Botswana represents Africa’s exciting new coal and ...
Thursday, 15 September 11
DRY BULK MARKET EDGING FURTHER UP THE SCALE, CLOSING IN ON 2,000 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was up once again yesterday, reaching 1,927 points, or 1.375 higher on the day. Thus, it has kept its rising trend established d ...
Wednesday, 14 September 11
INDO STRAITS BAGS 2.4 MILLION TON COAL TRANSPORTATION CONTRACT FROM ARUTMIN
COALspot.com - PT Indo Straits Tbk (PTIS) bagged a contract to tranship about 2.40 million tons of coal over an initial period of 6 months fro ...
Wednesday, 14 September 11
DUTA PERTIWI DISCOVERS COAL RESERVE - INSIDER STORIES
Insider Stories reported that, PT Duta Pertiwi Nusantara Tbk (DPNS) yesterday steeply jumped 24.56% to Rp710 a share after the company discove ...
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- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- MS Steel International - UAE
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- PTC India Limited - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Minerals Council of Australia
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
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