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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, 08 February 11
PUSTAKA JAYA PALU POWER LOOKING FOR 5800 GAD COAL
COALspot.com - According to market information, PT Pustaka Jaya Palu Power, a power plant operator of the Mpanau plant, Palu, Sulawesi has invited c ...
Tuesday, 08 February 11
BAYAN, KANGAROO EXTEND DUE DILIGENCE
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limite ...
Tuesday, 08 February 11
DRY BULK: IS THE TIDE TURNING? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) poste ...
Monday, 07 February 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 13.03 PERCENT IN FEBRUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the February 2011 Indonesian Coal Reference Price for therma ...
Monday, 07 February 11
COAL PRICES ON RISE: DEMAND FROM INDIA AND CHINA - ANALYZED SUNIL K KUMBHAT
INDONESIA IS HEART OF ASIAN COAL BOOM
COALspot.com - Rising demand of Coal from India and China, coupled with global financial recovery, is driv ...
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- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Sical Logistics Limited - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
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