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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
Sunday, 28 August 11
FREIGHT MARKET COULD BE FIRM NEXT MONTH - VISTAAR
COALspot.com - The freight market continued the upward trend first half of the week . However, towards the end of the week lost momentum and the BDI ...
Saturday, 27 August 11
JAPANESE BULK CARRIER SETS RECORD ON NORTHERN SEA ROUTE - BARENTS OBSERVER
The Northern Sea Route will see its third record in less than a month when the largest ever bulk carrier to take the route leaves Murmansk next week ...
Saturday, 27 August 11
RBCT-INDIA ROUNDS FIXED AT AROUND US$ 12K - FEARNBULK
Handy
Stable but very positional markets across all segments in the Atlantic: the gap between owners and charterers rate ideas is building up as o ...
Friday, 26 August 11
TUAH TURANGGA AGUNG ACQUIRES AN ADDITIONAL 40% SHARES IN BARA PRIMA AGUNG
COALspot.com - PT Tuah Turangga Agung, a subsidiary of PT United Tractors Tbk, has signed an acquisition agreement to acquire 40% of PT Bara Prima A ...
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- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Australian Coal Association
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Planning Commission, India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
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