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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, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BD ...
Monday, 23 May 11
BRMS IS TO START PRODUCTION FROM DAIRI PRIMA MINERALS
COALspot.com - The Presidential Decree No. 28 Year 2011 that allows conditional underground mining in the protected forest areas was issued on 19th ...
Sunday, 22 May 11
INDONESIA - INDIA IS LIKELY TO BE STEADY NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market remained soft beginning of the week, however second half of the week was firm with BDI up by 3.29 pct and closed a ...
Saturday, 21 May 11
OWNERS PREFER TO DO INDO COAL OR NICKEL ORE TO CHINA RATHER THAN GOING TO INDIA - FEARNBULK
Handy
The Atlantic is marked by volatility and very positional, nevertheless USG,NCSA, Cont remain strong thanks to the petcoke, grains and scrap ...
Friday, 20 May 11
GOVT TOLD TO LIMIT COAL, GAS EXPORTS - THE JAKARTA POST
The Jakarta Post, a leading news paper in Indonesia, reported that, Amid soaring global oil prices, the government should limit exports of coal and ...
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- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- White Energy Company Limited
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- MS Steel International - UAE
- The University of Queensland
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- PTC India Limited - India
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
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