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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Wednesday, 27 July 11
BLACKSTONE TO INVEST INR 5,000 MILLION (APPRX. US$ 111 MILLION) IN VISA POWER
Press Release - The Blackstone Group (NYSE: BX) today announced that it will be investing INR 5,000 million (c. USD 111 million) in VISA Power ...
Tuesday, 26 July 11
UT'S SALES COULD REACH TO 8000 UNITS BY THE END OF 2011
COALspot.com - Sales of Komatsu heavy equipment in the domestic market in the first half of 2011 rose 59 percent to 4333 units compared to the same ...
Monday, 25 July 11
INDONESIA STATE ELECTRICITY COMPANY HAS BURNED 19 MMT OF COAL FOR FIRST HALF OF 2011
COALspot.com - Indonesia's State Electricity Company and other IPPs have burned 19 million tons of coal for first half of this year said,Pamudji Nu ...
Monday, 25 July 11
AKR CORPORINDO TO PRODUCE 0.3 MMT OF COAL BY DECEMBER
COALspot.com - PT AKR Corporindo (AKRA) began producing coal from its mine in Muara Teweh, Central Kalimantan. The company is targeting to pro ...
Sunday, 24 July 11
AN INDIAN PORT SETS A WORLD RECORD FOR CONVENTIONAL COAL DISCHARGE
COALspot.com - Krishnapatnam Port has set a World record for discharging 106,171 tons of steam coal in just 24 hrs using the conventional unloading sy ...
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- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
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