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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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Friday, 26 August 11
INTRACO EYES US$200 MIO COAL TAKEOVER - INSIDER STORIES
Heavy equipment distributor PT Intraco Penta Tbk, that was founded by Halex Halim, is scouting a coal acquisition with the valuation above US$200 mi ...
Thursday, 25 August 11
OPG EXPECTS COAL PRICES TO REMAIN FIRM IN THE SHORT TERM
COALspot.com - Revenue of OPG, the developer and operator of Group Captive power plants in India up 188% to £33.15m and Income from continuing ...
Thursday, 25 August 11
PAITON POWER LOOKING FOR 3.96 MILLION TONS OF COAL
COALspot.com - PT Pembangkit Jawa Bali (PJB) is looking for 3.96 million tons coal with calorific value 4,800 kcal/kg on as received basis. Accordin ...
Tuesday, 23 August 11
ICMA CALLS GOVERNMENT TO REVIEW EXPORT BAN REGULATION
COALspot.com - Chairman of the Indonesian Coal Mining Association (ICMA) Bob Kamandanu asks the government to review the regulation that being draft ...
Tuesday, 23 August 11
ADARO ENERGY ACQUIRES 75% STAKE OF PT MUSTIKA INDAH PERMAI FOR US$ 222.5 MILLION
COALspot.com - PT Alam Tri Abadi, a wholly owned subsidiary of PT Adaro Energy Tbk, signed a share purchase agreement to acquire a 75% stake of PT M ...
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- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Planning Commission, India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Economic Council, Georgia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- The University of Queensland
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
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