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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, 22 March 11
KRISHNAPATNAM PORT SETS ALL INDIA RECORD FOR COAL DISCHARGING
COALspot.com - "Krishnapatnam Port has set an all India record for discharging 71,587 tons of steam coal in just 24 hrs using the conventional ...
Sunday, 20 March 11
FREIGHT MARKETS COULD SOFTEN NEXT WEEK DUE TO JAPANESE PORTS CLOSURE AND LIBYAN CRISIS - VISTAAR
COALspot.com - The BDI was down by 1.98 pct (closing at 1531 points) mainly due to Cape index which was down by almost 11 pct and closed 1687 points ...
Friday, 18 March 11
FALL IN INDONESIAN COAL EXPORTS IN FEBRUARY 11
COALspot.com - Indonesian coal exports seen a fall of 10.76% during Feb 2011. The world’s largest coal exporter shipped 22.029 MMts of c ...
Thursday, 17 March 11
THE PACIFIC HANDY MARKET IS CURRENTLY STEADY - FEARNBULK
Handy
The Atlantic market is showing signs of recovery and does not seem to be affected by the Japan disaster. The market is very positional and i ...
Tuesday, 15 March 11
COAL PRODUCTION FORECAST TO SURGE ON RISING PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal production is forecast to increase by 20 percent this year as coal prices continue to ...
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- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- GMR Energy Limited - India
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
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