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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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Sunday, 28 November 10
FREIGHT MARKET SEEMS TO BE NERVOUS - VISTAAR
COALspot.com - The freight market continued to remain uncertain even though only cape index was down by 8.31 pct.
Overall the market seems to be ...
Friday, 26 November 10
INDIA WILL IMPORT 100 MLN TONS OF COAL BY 2012 - LAKSHMINARAYANA
COALspot.com – “India’s coal shortfall will reach 100 million mt by 2011-12”, said Lakshminarayana, Vice Preside ...
Friday, 26 November 10
CHINAS COAL INVENTORY STAYS HIGH FOR 22 MONTHS AT 220 MLN T, ASSOCIATION
Xinhua News Agency reported that, China’s coal inventory has stayed high and unchanged for 22 months to be around 220 million tonnes, reflecti ...
Friday, 26 November 10
DR WOLFGANG CIESLIK TO HEAD GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com – (Press Release): The Management Board of the German Coal Importers Association (Verein der Kohlenimporteure e.V.) has elected D ...
Thursday, 25 November 10
ANALYSIS: COAL SECTOR: VALUE EMERGENCE - THE JAKARTA POST
Coal demand will remain firm due to a build-up of coal-fired power plants in India, China and Indonesia. As a result, we have upgraded our coal pric ...
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- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Planning Commission, India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- The Treasury - Australian Government
- The University of Queensland
- SMC Global Power, Philippines
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