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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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Tuesday, 15 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country's Co ...
Monday, 14 October 19
WINTER OIL MARKET OUTLOOK - OPEC
Product markets in the last two months have benefitted from seasonal maintenance which have led to a tighter product market environment, providing ...
Sunday, 13 October 19
INDONESIA: PANAMAX VESSELS OPEN SOUTH CHINA WERE REPORTEDLY FIXED AT $14,000 LEVEL, WITH REDELIVERY BACK IN CHINA - BALTIC BRIEFING
Capesize
The Capesize market managed to find a floor and rally a little this week after several weeks of declines. While the West Australia to ...
Friday, 11 October 19
INDIAN MINERS REJECT PLAN TO LINK NATIONAL COAL INDEX TO FOREIGN PRICES - REUTERS
India’s miners are rejecting a government proposal to establish a national coal index that would be linked to international prices, documents ...
Friday, 11 October 19
THE OCTOBER BENCHMARK PRICE OF INDONESIAN THERMAL COAL DECLINES TO LOWEST SINCE OCTOBER 2016
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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Showing 1316 to 1320 news of total 6871 |
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- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Planning Commission, India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- PTC India Limited - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
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