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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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Thursday, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
Wednesday, 17 November 10
DRY BULK MARKET LOOKING FOR SUPPORT IN COAL TRADES AND INDIAN IRON ORE EXPORTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Nikos Roussanoglou, Hellenic Shipping reported that, the dry bulk market is lacking support to end its 13-day slide, as evidenced by Monday’s ...
Tuesday, 16 November 10
'VALLAR PLC' TO BECOME 'BUMI PLC' POST DEAL - THE JAKARTA POST
The Jakarta Post reported that, The United Kingdom’s Vallar Plc will change its name to Bumi Plc following a cash and stock transaction with t ...
Sunday, 14 November 10
THE FREIGHT MARKET CONTINUED ITS DOWN FALL - VISTAAR SINGAPORE
COALspot.com: The freight market continued its down fall with BDI down by 7.29 pct and closed at 2,313 points.
All other segments were also under ...
Saturday, 13 November 10
INDONESIA SHIPPED 8.73 % MORE COAL IN OCTOBER THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23.55 mln mt of coal in October 2010, which is 8.73 percent more compared to Septe ...
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- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
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