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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, 19 April 11
LONDON COMMODITY BROKERS OPENS JOHANNESBURG OFFICE
COALspot.com - London Commodity Brokers (LCB), a broking house specialising in bulk physical and Over-The-Counter commodities and options (coal ...
Tuesday, 19 April 11
TNPL TO CONDUCT E-AUCTION TO SECURE 160,000 MT OF COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL) a state utility of Tamil Nadu, India to conduct reverse auction on 20 April 2011, betw ...
Tuesday, 19 April 11
ADARO TO ALLOT US$100 MIO FOR COKING COAL - INSIDER STORIES
One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) plans to spend US$100 million in coking coal project dubbed IndoMet Coal, a joint ...
Tuesday, 19 April 11
KPCL TO OPEN PRICE BID ON 23 APRIL 2011 TO FINALIZE ITS ONE MILLION MT COAL SUPPLIER
COALspot.com - Karnataka Power Corporation (KPCL) a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 ...
Monday, 18 April 11
INDONESIA HAS SET THE APRIL 2011 COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.02 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the April 2011 Indonesian Coal Reference Price for thermal coal at ...
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- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Marubeni Corporation - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
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