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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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Wednesday, 20 October 10
ADANI THE LARGEST COAL IMPORTER OF INDIA IS NEGOTIATING WITH COAL INDIA LIMITED FOR A SUPPLY AGREEMENT - TOP NEWS
Top News reported that, negotitations are very much on between Adani Enterprises, the biggest coal importer of the country and Coal India Limited, t ...
Wednesday, 20 October 10
UAE FIRM IN INDONESIA RAIL DEAL - GULF NEWS
Gulf News reported that, construction of a 140-kilometre railway in Indonesia, initiated by RAK Minerals and Metals Investments (RMMI) will start ne ...
Wednesday, 20 October 10
CAPESIZES FINDING SUPPORT IN IRON ORE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the beginning of the week wasn’t the rosiest one for the dry bulk market, last week proved a cheerful one for dry bulk ship owners, e ...
Saturday, 16 October 10
BDI WAS MARGINALLY UP BY 2.45 PCT LAST WEEK - VISTAAR SHIPPING
COALspot.com: The BDI seemed to lose the moment compared to last week and was marginally by 2.45 pct and closed at 2,762 points.
Also the Cape in ...
Friday, 15 October 10
VALUE ADDED TAX FOR COAL TO RE-INTRODUCE IN INDONESIA
COALspot.com: Indonesian government is drafting a ministerial decree to re-introduce value added tax for coal and mineral. Coalindo weekly news lett ...
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- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
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