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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, 22 November 19
FORTY PERCENT OF ADARO'S COAL SALES VOLUME IN 9M19 GOES TO THE SOUTHEAST ASIA REGION
PT Adaro Energy Tbk released its consolidated financial statements yesterday, for the nine month period, ending September 30, 2019.
...
Friday, 22 November 19
UNCERTAINTY IN THERMAL COAL MARKET PERSISTED IN 3Q19 - ADARO
Uncertainty in thermal coal market persisted in 3Q19, mainly due to the actions, or inactions, of China in setting policies for global coal market. ...
Friday, 22 November 19
CIL TO DEVELOP 55 NEW COAL MINES IN NEXT 5 YEARS: COAL MINISTER
State-owned CIL will develop 55 new coal mines and expand 193 existing ones in the next five years, Parliament was informed. The company is also un ...
Thursday, 21 November 19
4TH DEEP OFFSHORE WEST AFRICA CONGRESS 2020
4th Deep Offshore West Africa Congress 2020
17 Janaury 2020
Accra, Ghana
Press Release: Following the great succ ...
Thursday, 21 November 19
INDONESIA PLANS TO KEEP $70/T COAL PRICE CAP FOR PLN, DMO - REUTERS
Indonesia’s energy minister Arifin Tasrif said his ministry plans to maintain a price cap on coal being sold to state electricity utility, PT ...
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- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- White Energy Company Limited
- Latin American Coal - Colombia
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
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