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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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Tuesday, 06 September 11
INDONESIAS PROPOSED COAL EXPORT BAN MAY HAVE IMPACT ON THE INDIAN POWER SECTOR - DIPESH DIPU
COALspot.com - This is a special interview about Indonesian proposed coal export ban by 2014, with Mr. Dipesh Dipu, Director of Deloitte Touche Tohm ...
Tuesday, 06 September 11
SEMEN GRESIK TO ACQUIRE COAL MINE FOR RP. 1 TRILLION
COALspot.com - PT Semen Gresik Tbk (SMGR) is planning to acquire a low calorific value coal concession (IUP). According to Semen Gresik, the coal mi ...
Tuesday, 06 September 11
DRY BULK MARKETS RALLY POWERS THROUGH TO NEW WEEK, BUT A CORRECTION COULD BE OVERDUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s freights rates kept leaping forwards during the beginning of the week, with the industry’s benchmark, the Baltic D ...
Monday, 05 September 11
TNPL POSTPONES BID OPENING UNTIL 12 SEPTEMBER 2011
COALspot.com - TNPL has postponed submission of the offer until 12 September 2011 on request from the supplier, an Indian trader said.
Due to Ram ...
Monday, 05 September 11
INDONESIAN COAL BENCHMARK PRICE - ANALYSIS
Analyst : Sunil K Kumbhat
COALspot.com - As a part of the Government’s efforts to stop transfer pricing abuses which have resulted in the los ...
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- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Australian Coal Association
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Thai Mozambique Logistica
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
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