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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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Tuesday, 05 July 11
UNTR REVISES UP SALES TO 7,500 UNITS - INSIDER STORIES
PT United Tractors Tbk (UNTR), distributor of Komatsu heavy equipment and parent of PT Pamapersada Nusantara, has revised up its equipment sales tar ...
Sunday, 03 July 11
INDONESIAN GOVERNMENT HAS CLEARED 1509 COAL IUP'S AS CLEAR AND CLEAN
COALspot.com - The Directorate general of mineral & coal of Indonesia has cleared around 1,509 IUP holders (coal mining companies) as "clea ...
Sunday, 03 July 11
MONSOON IN INDIA PUSHED FREIGHTS UP FROM INDONESIA TO WC INDIA - VISTAAR
COALspot.com - The BDI continued to hold closing just 2 points below last week at 1,422 points which was supported by Cape index which was up by 71 ...
Friday, 01 July 11
BEN LINE OPENS A NEW OFFICE IN BERAU
COALspot.com - Ben Line Agencies has announced that it has opened a new office in the busy coal loading port of Berau in East Kalimantan increasing ...
Friday, 01 July 11
CAPESIZE RATES TO REMAIN DEPRESSED IN COMING MONTHS SAYS SHIPPING ORGANIZATION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a recent report, BIMCO reassessed that Capesize freight rates will remain in depressed territory in the coming months. Capesize Time Charter Aver ...
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- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
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