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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, 10 July 11
PTBA INCREASES SHARES IN COAL TRAIN PROJECT - TEMPO INTERACTIVE
TEMPO Interactive reported that, PT Tambang Batubara Bukit Asam (PTBA) is still studying the plan to buy 20 percent of shares in the PT Bukit Asam T ...
Sunday, 10 July 11
DRY BULK MARKET SHOWING SIGNS OF IMPROVEMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Stronger Capesize demand has helped propel the dry bulk market forward this week, with the Baltic Dry Index (BDI) ending yesterday’s session u ...
Sunday, 10 July 11
INDONESIAN BAYAN RESOURCES TO SUPPLY 100 MILLION TONS OF COAL TO INDIAN UNIVERSAL SUCCESS ENTERPRISES LIMITED
Coal miner PT Bayan Resources Tbk (BYAN), that is owned by Dato' Low Tuck Kwong, has entered into a conditional sales and purchase agreement to sup ...
Thursday, 07 July 11
BELOW 5100 COAL WILL BE BANNED FOR EXPORT BY 12 JANUARY 2014
COALspot.com - Indonesian government is in the process of drafting an amendment for government regulation 23/ 2010.
GR 23/2010 has issued to sup ...
Wednesday, 06 July 11
ATLAS RESOURCES TO OFFLOAD 17 PERCENT IPO - INSIDER STORIES
Coking and thermal coal miner PT Atlas Energi Resources aims to offload 17percent new shares of its enlarged capital after Eid-Fitri holidays, as qu ...
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- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Planning Commission, India
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
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