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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, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
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- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
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