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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Saturday, 23 July 11
FAR EAST /SE ASIA ROUTE GAINED US$ 3000 HIGHER THAN LAST WEEK - VISTAAR
COALspot.com - The BDI further softened to by 2.22 pct and closed at 1323 points. The Cape and Panamax index also softened and closed at 1841 points ...
Saturday, 23 July 11
PANAMAX MARKET FACED A LIMITED ACTIVITY IN ALL BASINS
Handy
Atlantic softening across all segments with little fresh enquiry ex Bsea/Cont/USG and ECSA. Trips to Far east remain healthy. More cargoes ex ...
Friday, 22 July 11
MARUBENI ACQUIRING 42.86% SHARE OF YTL JAWA POWER HOLDINGS
COALspot.com - Japan’s Marubeni Corporation acquisition 42.86% stake in YTL Jawa Power Holdings BV, which owns a 35% equity interest in Indone ...
Thursday, 21 July 11
INDIA IMPORTS 36.033 MILLION TONS OF INDONESIAN COAL TILL JUNE
COALspot.com - Indonesia shipped 28.27 Million tons of coal in June 2011, a 2.3 percent lesser than May export of about 28.962 million tons, I ...
Thursday, 21 July 11
COAL PRICES ARE AT US$ 120 A TONNE
COALspot.com - Indonesian coal production in 2011 is expected to reach 360 million tons or 5.8 percent higher than government's forecasts. The incr ...
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- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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