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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, 12 April 19
OFFSHORE MENA CONGRESS 2019
Offshore MENA Congress 2019
Event Date : 11-12th Jun. 2019
Location : Cairo, Egypt
Offshore MENA Congress 2019 Offshor ...
Friday, 12 April 19
U.S : MORE THAN 7 GW OF COAL-FIRED GENERATION IS SCHEDULED TO RETIRE BY THE END OF 2020 - EIA
EIA estimates that U.S. coal production decreased by 19 million short tons (MMst) (2%) in 2018, totaling 756 MMst.
EIA also expects ...
Friday, 12 April 19
GLENCORE WINS $520 MILLION DEAL TO SELL COAL TO MEXICO - REUTERS
Global trader Glencore has won contracts worth around $520 million to supply 4.94 million tonnes of coal to Mexico, state-run power utility the Fed ...
Thursday, 11 April 19
AUSTRALIAN COAL IN THE FRONTLINE OF CHINA'S SUPPLY GLUT - AUSTRALIAN FINANCIAL REVIEW
Australian coal will be hardest hit as China cuts foreign imports of its key energy source to tackle oversupply, and implements policies favouring ...
Wednesday, 10 April 19
COALTRANS ASIA - TAKE PART IN THE LARGEST COAL EVENT IN THE WORLD!
Take part in the largest coal event in the world!
Coaltrans Asia is back this June bringing together the entire international coal s ...
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- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Planning Commission, India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Australian Coal Association
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
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