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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, 03 December 10
INDONESIAN LOW RANK COAL IS ATTRACTING COAL BUYERS FROM INDIA AND CHINA
COALspot.com - Bhakti Energi Persada has sold out its whole coal production until the end of 2011, Jeffry Mulyono said during McCloskey Asia P ...
Thursday, 02 December 10
INDIA'S COAL SHORTAGE TO DEEPEN NEXT YEAR - MONEY CONTROL
Money Control reported that, India's coal deficit will deepen sharply next year, its coal minister said on Tuesday, forcing Asia's third largest e ...
Thursday, 02 December 10
CIL INCHES CLOSER TO PEABODY STAKE DEAL - THE TELEGRAPH INDIA
The Telegraph India reported that, state-run Coal India Ltd (CIL) hopes to complete negotiations to buy over 10 per cent in Australian miner Peabody ...
Thursday, 02 December 10
DRY BULK MARKET WEIGHED DOWN BY CAPESIZE BLUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The negative sentiment currently undergoing in the capesize market has kept the dry bulk market’s benchmark, the Baltic Dry Index (BDI) on the ...
Monday, 29 November 10
NUCLEAR SUPERTANKERS TO SHAKE UP SHIPPING - THIS IS MONEY
This is money reported that, plans are under way that could see nuclear-powered supertankers sailing the world’s shipping lanes, refuelling on ...
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- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Planning Commission, India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- VISA Power Limited - India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
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