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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, 23 September 19
CHINA RECORDS SLOWER GROWTH IN COAL PRODUCTION - XINHUA
The growth of China’s raw coal production slowed down in August, data from the National Bureau of Statistics (NBS) showed.
Aro ...
Friday, 20 September 19
INDIA TO INVITE BIDS FOR COMMERCIAL COAL MINING IN DECEMBER - MINISTER FOR COAL
India aims to begin the process of holding the first round of commercial coal mining auctions December end, Minister for Coal, Mines and Parliament ...
Friday, 20 September 19
INDIA: ECONOMIC SLOWDOWN IMPACTS COAL IMPORT CARGO IN H1 FY20 - PTI
Economic slowdown has impacted coal import cargo in the first half of this fiscal, as overall cargo growth at major ports registered a marginal gro ...
Wednesday, 18 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
During the first week of September, I had the privilege of attending the Donsö Shipping Meet 2019, in Donsö, a small island of around 1,& ...
Tuesday, 17 September 19
PANAMA SHIP REGISTRY MODERNIZES SHIP REGISTRATION
The Panama Ship Registry has announced it will integrate in a single platform “Electronic Ship Registration System (ESRS)” the present ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Planning Commission, India
- Australian Coal Association
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
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