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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, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...
Friday, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
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- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
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