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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, 01 March 11
GANGAVARAM PORT, AN INDIAN MODERN PORT CREATES RECORD
COALspot.com - Gangavaram Port, the deepest and the most modern port in India creates yet another record by discharging 65349 MT Coking Coal in 24 h ...
Monday, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
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- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Wilmar Investment Holdings
- Planning Commission, India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- The University of Queensland
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
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