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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, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
Wednesday, 27 April 11
KEWESPO CALLS FOR 765KT OF THERMAL COAL
COALspot.com - South Korea's East-West Power Co's (KEWESPO) has issued a tender to buy total 765,000 tonnes of thermal coal for delivery between J ...
Wednesday, 27 April 11
HARUM ENERGY TO PAY RP 659.1B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miner Harum Energy is planning to pay out Rp 659.1 billion (US$76.46 million) in dividends this year ...
Wednesday, 27 April 11
TSIS $5 MILLION PLANT TO START PRODUCING UPGRADED COAL - THE JAKARTA POST
The Jakartapost reported that, PT Total Sinergy International (TSI), in association with Agritrade Resources Limited of Hong Kong, will upgrade its ...
Wednesday, 27 April 11
RAIN CONSIDERS COAL MINES TAKEOVER - INSIDER STORIES
Indonesian's tenth largest coal miner in term of coal concession, PT Resource Alam Indonesia Tbk (KKGI), is considering to acquire several coalmine ...
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- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- White Energy Company Limited
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- The University of Queensland
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Marubeni Corporation - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
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