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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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Sunday, 31 July 11
CAPES ARE TRADING BELOW $ 9500 PER DAY - VISTAAR
COALspot.com - The BDI further softened by 4.46 pct and closed at 1264 points which touched below 1300 points after long time. The Cape and Panamax ...
Friday, 29 July 11
5300 ADB COAL WILL BE AT US$ 60/TON IN THIS QUARTER - RAIN
COALspot.com - PT Resource Alam Indonesia Tbk (KKGI) seeing the average selling price of its coal for the third quarter of this year will increase t ...
Thursday, 28 July 11
PTBA'S COAL PRICES UP IN H1 2011
COALspot.com - Bukit Asam’s coal prices in the second half of 2011 will expected to be higher than the first half of this year, said Sukrisno, ...
Thursday, 28 July 11
RESOURCE ALAM 1H PROFIT SURGES 208 PERCENT
Indonesia's tenth largest coal miner in term of concessions, PT Resource Alam Indonesia (KKGI), part of Rain Group, today reported a skyrocket net ...
Thursday, 28 July 11
DRY BULK MARKET EDGES FURTHER DOWN ON ADDED PRESSURE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Baltic Dry Index (BDI), an indicator of dry bulk freight rates has reached new lows this week, with yesterday’s session ending further dow ...
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- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Australian Coal Association
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- The University of Queensland
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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