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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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Thursday, 16 June 11
BOOSTING THE USE OF LOW CARBON ENERGY FOR A BETTER WORLD
Bali, Indonesia host of world renewable energy congress – Indonesia, international conference & exhibition on renewable energy and energy ...
Thursday, 16 June 11
FREIGHT MARKET FAILS TO RECOVER - DREWRY / HELLENIC SHIPPING
With demand failing to improve enough to contain the colossal increases in supply, the dry bulk freight market stayed near the dreadfully low levels ...
Thursday, 16 June 11
VALLAR CONTROLS 84.7 PERCENT STAKE IN BERAU COAL - INSIDER STORIES
Insider Stories reported that, London-based investment company Vallar Plc, via its subsidiary dubbed Vallar Investments UK Limited, today announced ...
Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian g ...
Wednesday, 15 June 11
BAYAN RESOURCES OWNS 56 PERCENT KANGAROO - INSIDER STORIES
Australia-listed coal miner Kangaroo Resources Limited (KRL) has obtained final approval from its shareholders to complete its US$277 million acquis ...
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- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Economic Council, Georgia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- The University of Queensland
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Minerals Council of Australia
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