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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, 02 December 19
OPEC PREPS FOR OIL'S 2020 BALANCING ACT - WOOD MACKENZIE
What steps should OPEC and its non-OPEC partners take to keep the market in balance in 2020? Ahead of OPEC’s meeting in Vienna on 5 and 6 Dec ...
Monday, 02 December 19
GREENER LNG IS VITAL TO ASIA'S SUSTAINABLE DEVELOPMENT - WOOD MACKENZIE
Asia struggles with the world’s worst air pollution. Delhi hit the headlines in November 2019 as levels spiked to such hazardous levels that ...
Monday, 02 December 19
5TH EAST & SOUTHERN AFRICA GAS & LNG CONFERENCE 2020
5th East & Southern Africa Gas & LNG Conference 2020
April 2-3
Maputo, Mozambique
5th East & Southern Afri ...
Monday, 02 December 19
5TH DEEPWATER EAST & SOUTHERN AFRICA CONGRESS 2020
5th Deepwater East & Southern Africa Congress 2020
April 2-3
Maputo, Mozambique
5th Deepwater East & Southern ...
Sunday, 01 December 19
6TH CENTRAL & EASTERN EUROPE NUCLEAR INDUSTRY CONGRESS 2020
6th Central & Eastern Europe Nuclear Industry Congress 2020
January 20-21 | Prague, Czech Republic
Overview
6th ...
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- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- ASAPP Information Group - India
- Economic Council, Georgia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Planning Commission, India
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- White Energy Company Limited
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Minerals Council of Australia
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
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