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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, 24 March 11
INDIA'S CHETTINAD INTERNATIONAL COAL TERMINAL'S PERMISSIBLE DRAFT HAS INCREASED TO 13.5 M
COALspot.com - Chettinad International Coal Terminal in Ennore port has the berth with draft 13.5 Meters now, according to E-Mail statement received ...
Thursday, 24 March 11
DRY BULK MARKET RISES, CAPESIZES GAIN BUT REMAIN LOW EARNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market posted modest gains on Wednesday, with the Baltic Dry Index rising to 1,565 points, up by 1.43 percent on the day, led by gains ...
Wednesday, 23 March 11
INDIAS TNPL RECEIVED 1.120 MMTS OF COAL AGAINST ITS 160K MT INQUIRY
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its inquiry today.
Seven Indian coal traders have submitted price bid to sup ...
Tuesday, 22 March 11
MONNET ISPAT & ENERGY LIMITED ACQUIRES INDONESIAN COAL COMPANY THROUGH ITS SUBSIDIARY MONNET GLOBAL LIMITED
Monnet Global Limited (MGL) acquires PT Sarwa Sembada Karya Bumi, Sumatra & on part exploration the reserves of 65 million tonne on Thermal Coal ...
Tuesday, 22 March 11
RI COAL EXPORTS TO JAPAN MAY BE DIVERTED TO OTHER COUNTRIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s coal exports to Japan will likely be diverted to other countries for several months after the rece ...
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- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- The University of Queensland
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Planning Commission, India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- PTC India Limited - India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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