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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, 17 April 19
ONCE AGAIN WE FACED WITH THE SITUATION OF THE DRY BALTIC INDEX BEING BELOW 1,000 POINTS - INTERMODAL
Once again we are faced with the situation of the Dry Baltic Index being below 1,000 points. In a market where the feeling of insecurity is almost ...
Wednesday, 17 April 19
LNG WESTERN AFRICA CONFERENCE 2019
The only LNG Focus Platform to Accelerate Investment and Cooperation in Western African Countries
LNG Western Africa Conference 2019 ...
Saturday, 13 April 19
IMO 2020 - DON'T SCRUB IT! - IVAR MYKLEBUST
KNOWLEDGE TO ELEVATE
Höegh Autoliners stands firm on its decision not to implement scrubbers but comply with the IMO 2020 regulations by ...
Saturday, 13 April 19
CAPESIZE: WEST AUSTRALIA TO CHINA IRON ORE CARGOES LIFTING FROM $4.60 PMT TO ABOVE $5.00 - BALTIC BRIEFING
Capesize
The market saw a steep ascent from the depths of last week. The Baltic Capesize Index (BCI) 5TC opened on Monday at $5,099, although b ...
Friday, 12 April 19
OIL MARKET REPORT: MIXED SIGNALS - IEA
The huge increase in oil production we saw in 2H18 has reversed following the implementation of the new Vienna Agreement and the increasing effecti ...
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Showing 1416 to 1420 news of total 6871 |
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- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- The University of Queensland
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Bhatia International Limited - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Parliament of New Zealand
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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