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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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Monday, 22 August 11
NTPC TO IMPORT 16 MILLION TON OF COAL TO BRIDGE THE GAP
COALspot.com - NTPC to import 16 million tons of imported coal, which is equivalent to 23-24 million tons of Indian coal to bridge the gap.
" ...
Monday, 22 August 11
MACRO ECONOMICS - PETER SAND BIMCO / HELLENIC SHIPPING
The US is jeopardising the global recovery as job creation remains top challenge across the board.
Global economy: While growth in most emerging ...
Sunday, 21 August 11
SUPRAMAX AVAILABILITY WAS TIGHT DUE TO UPCOMING RAMADAN HOLIDAYS
COALspot.com - The financial markets have been in turmoil with all major stock exchanges down and uncertainty prevails. However the shipping market ...
Sunday, 21 August 11
TUAH TURANGGA ACQUIRES DUTA NURCAHYA
Coal miner PT Tuah Turangga Agung, a wholly owned subsidiary of PT United Tractors Tbk (UNTR) via PT Pamapersada Nusantara), has agreed to acquire 6 ...
Friday, 19 August 11
INDIAS CICTL HAS ACHIEVED ONE MILLION TONS OF DISCHARGE
COALspot.com - Chettinad International Coal Terminal (CICTL) in Ennore port, a state of the art mechanized coal terminal, which was inaugurated on 28t ...
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- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Australian Coal Association
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
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