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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, 15 August 11
INDIAS MALABAR CEMENTS SEEK TO IMPORT 40,000 TONS OF COAL
COALspot.com - Malabar Cements Ltd., India's Keralaa government owned cement factory is seeking to import 40K metric tons of non-coking coal throug ...
Sunday, 14 August 11
SUPRAMAX CHARTER RATES SHARPLY UP - CAPT.REDDY
COALspot.com - The BDI ended positive with gains in Cape and Panamax index. The BDI was up by 1.50 pct and the cape and panamax index was up by almo ...
Saturday, 13 August 11
GMR HAS ENTERED INTO CSPA WITH GEMS TO ACQUIRE 30% STAKE
COALspot.com - GMR Infrastructure Investments (Singapore) Pte Ltd, a subsidiary of GMR Infrastructure, has signed conditional sale and purchase agre ...
Friday, 12 August 11
COAL MINERS WILL ALLOW TO CONSTRUCT MINE MOUTH POWER PLANT
COALspot.com - The government is set to draft a regulation to enable construction of steam-fired power plants (PLTU) by coal mining companies for th ...
Friday, 12 August 11
CAPESIZE DEMAND HELPS LIFTING OF DRY BULK MARKET - HELLENIC SHIPPING NEWS
The dry bulk market has recovered a small fraction of its lost ground this week, with higher returns as a result of increased capesize demand. This ...
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- PowerSource Philippines DevCo
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- The University of Queensland
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Bhatia International Limited - India
- White Energy Company Limited
- Central Electricity Authority - India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
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