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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, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
Monday, 09 May 11
THAILAND COAL IMPORTS SURGE IN Q1 - ICAP SHIPPING
Thailand's coal imports leapt 20% in Q1 and the country looks set to import its largest ever volume in 2011 as quoted by ICAP Shipping web site.
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Monday, 09 May 11
KOSPO SEEKING 65KT STEAMING COAL
COALspot.com - Korea Southern Power Co (KOSPO) issues tender for 65000 Mt of Steaming Coal Supply with a minimum CV of 4,500 kcal/kg on NAR basis. D ...
Monday, 09 May 11
INDONESIA HBA FALL BELOW $118
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the May 2011 Indonesian Coal Reference Price for thermal coal at US$ 11 ...
Monday, 09 May 11
DIAN SWASTATIKA Q1 PROFIT SOARS 511 PERCENT - INSIDER STORIES
PT Dian Swastatika Sentosa Tbk (DSSA), parent of coal miner PT Golden Energy Mines, reported a 511.73% jump in net profit for the first quarter of t ...
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- Makarim & Taira - Indonesia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- White Energy Company Limited
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
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