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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, 19 August 11
AUSTRALIAS' ATH TO ACQUIRE 60% OF APUAH COAL MINE IN INDONESIA
COALspot.com - Australian listed company, Atech Holdings Limited (ATH) has entered into a conditional binding term sheet to acquire 60 percent stake ...
Friday, 19 August 11
INDIA IMPORTS LESS INDONESIAN COAL THAN CHINA IN JULY
COALspot.com - Indonesia shipped 31.30 Million tons of coal in July 2011, up by 10.69 percent compared to June's export of about 28.27 ...
Thursday, 18 August 11
INDONESIAS PROPOSED LOW GRADE COAL EXPORT BAN WILL NOT HAVE A SIGNIFICANT IMPACT ON INDIA - MISWIN MAHESH
COALspot.com - The Indonesian government is currently in the process of drafting a new regulation that could ban the export of low-grade coal by Jan ...
Thursday, 18 August 11
MARUBENI ACQUIRED 42.86% OF YTL JAWA POWER
COALspot.com - Marubeni Corporation (Marubeni) has completed the acquisition of 42.86 percent of the shares of YTL Jawa Power Holdings BV from YTL P ...
Wednesday, 17 August 11
CME LAUNCHES ARGUS COKING COAL SWAP FUTURES
COALspot.com - Argus media reported that, leading exchange CME Group will list an Australian coking coal swap futures contract for trading on the Ny ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Planning Commission, India
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Australian Coal Association
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- MS Steel International - UAE
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
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