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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, 20 July 11
DRY BULK MARKET KEEPS ON FALLING ON SOFTENING CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated to lower ground on Tuesday, as the industry’s benchmark, the BDI (Baltic Dry Index) fell to 1,330 points, down b ...
Tuesday, 19 July 11
82 MIO TONS OF COAL TO BE SUPPLIED FOR DOMESTIC MARKET
Indonesian Coal miners were required to supply 82 million tons of coal to Domestic market in this year. This is a 2.53 percent higher than last year ...
Monday, 18 July 11
IMFA BUYS A INDONESIAN COAL MINE FOR USD 8.7 M
Indian Metals and Ferro Alloys (IMFA), the largest producer of ferro chrome in the country, today said it has acquired 70 per cent stake in an Indones ...
Sunday, 17 July 11
THE COAL PRICES ARE SOFTENING DUE TO LESS DEMAND - VISTAAR
COALspot.com: The markets were down last week with BDI down by 6.63 points and closing at 1,353 points. The most affected was Cape index which was d ...
Friday, 15 July 11
DRY BULK MARKET SUFFERS NEW BLOW, RETREATS EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell even lower yesterday on the back of lower demand for larger vessels, like Capesizes and Panamaxes. The industry’s ben ...
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- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- The University of Queensland
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
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