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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
Monday, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
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- Aditya Birla Group - India
- Australian Coal Association
- VISA Power Limited - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Planning Commission, India
- Independent Power Producers Association of India
- Economic Council, Georgia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
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