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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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Wednesday, 03 August 11
DRY BULK MARKET SINKS TO THREE-MONTH LOWS, BUT CAPESIZES COULD TURN THINGS AROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on falling this week, on the back of slow cargo demand amid the summer season. Yesterday, the BDI (Baltic Dry Index), the i ...
Tuesday, 02 August 11
INDONESIA BECOMES SECOND LARGEST COKING COAL EXPORTER
COALspot.com - Indonesia, the largest thermal coal exporter in the world now becomes second biggest coking coal exporter to Japan. Indonesian’ ...
Tuesday, 02 August 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK TO PRESENT LATEST TRENDS
Press Release - Global commodities prices have been staying high since the beginning of 2011, resulting in the “TENSION” in various coun ...
Tuesday, 02 August 11
REALM RESOURCES TO ACQUIRE A 75% INTEREST IN THE KATINGAN RIA COAL PROJECT
COALspot.com - Scoping study at the Katingan Ria Coal Project, Central Kalimantan demonstrates positive technical and financial potential for the pr ...
Tuesday, 02 August 11
COAL INDIA TO INVEST IN GOLDEN ENERGY MINES
COALspot.com - Golden Energy Mines, part of PT Dian Swastatika Sentosa Tbk’s, is still negotiating with several strategic investors to o ...
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- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- The University of Queensland
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Planning Commission, India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- PTC India Limited - India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
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