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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Saturday, 26 March 11
FLSMIDTH WINS MULTIMILLION DOLLAR MATERIAL HANDLING PROJECT IN INDONESIA
FLSmidth has signed a contract in Jakarta worth in excess of USD 135m (DKK 700m) with PT Adaro Indonesia, a subsidiary of PT Adaro Energy Tbk., to s ...
Saturday, 26 March 11
ADARO AIMS TO DOUBLE COAL PRODUCTION -THE JAKARTA POST
The Jakarta Post reported that, coal producer PT Adaro Indonesia is planning to soon boost its production capacity to 80 million tons annually, almo ...
Friday, 25 March 11
KNOWLEDGE INFRASTRUCTURE TO BAG 160,000 MT COAL SUPPLY ORDER FROM TNPL
COALspot.com - Delhi based Knowledge infrastructure Systems Pvt. Ltd offered lowest price of US$ 97.10 per metric ton for calorific value of 6000 GA ...
Friday, 25 March 11
THE CAPESIZE MARKET CONTINUED TO FALL - FEARNBULK
Handy
The Atlantic market remains stable with more activity from the Black Sea to Feast paying in the mid 20´s on supras.
The USG remain ...
Friday, 25 March 11
BORNEO ENERGI FY10 NET INCOME SOARS - INSIDER STORIES
Coking coal producer PT Borneo Lumbung Energi Tbk (BORN) booked a skyrocket net income by 499.72% from net loss position in 2009, as quoted by Insid ...
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- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- The University of Queensland
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
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