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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Friday, 17 December 10
NALCO SHORTLISTS COAL FIRMS FOR INDONESIA PROJECT - BUSINESS-STANDARD
Business-Standard reported that, State-owned NALCO today said it has shortlisted two firms for supply of coal for its Rs 18,000-crore (US$ 3,953,003 ...
Thursday, 16 December 10
LANCO BAGS AUSTRALIAN COAL MINER GRIFFITH - DNA
As part of its strategy to secure coal supplies for meeting its needs in expanding power generation capacities, infrastructure major Lanco Infratech ...
Thursday, 16 December 10
COAL INDIA IN TALKS WITH INDONESIAN CO TO BUY ITS COAL MINES - APN NEWS
APN News reported that, World’s largest coal producer Coal India is in talks with Indonesia’s Sinar Mas Group for acquiring coal mines i ...
Wednesday, 15 December 10
GOVT SETS NEW MINIMUM LEVEL FOR DOMESTIC MARKET SALES - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal producers are required to sell at least 24.17 percent of their production to the domestic market nex ...
Wednesday, 15 December 10
CAPESIZE RATES ARE NOW AT THEIR LOWEST LEVEL SINCE AUGUST
It was a repeat performance for the market this week, with another increase in earnings for the small sizes but a sharp drop for the Capes. Overall ...
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- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Planning Commission, India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- The University of Queensland
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
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