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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, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
Tuesday, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
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- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Minerals Council of Australia
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Planning Commission, India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Edison Trading Spa - Italy
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
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