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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, 01 April 19
AUSTRALIAN COAL AT RISK FROM CHINA MOVE, WARNS GOVERNMENT REPORT - SYDNEY MORNING HERALD
A new government report warns China’s restrictions on coal imports is the number one risk for Australian coal this year and could lead to a s ...
Saturday, 30 March 19
KOEN INVITES BIDS FOR 450,000 TONS OF (SUB) BITUMINOUS COAL FOR H1 AND JUNE 2019
South Korea state-owned utility KOREA SOUTH-EAST POWER CO., LTD. (KOEN) issued a tender for total 450,000 MT of min. 4300, 3500 and 5600 NCV ...
Wednesday, 27 March 19
SHIPPING MARKET INSIGHT - INTERMODAL
Contrary to the December 2018 forecasts but in line with the expectations of the dry bulk market, the first quarter of the year closed negatively. ...
Saturday, 23 March 19
IT WAS A POSITIVE WEEK FOR THE HANDY SIZE MARKET - BALTIC BRIEFING
Capesize
The big ships endured heavy losses last week extinguishing any hopes from the recent minor rally. Negative sentiment gained pace throu ...
Friday, 22 March 19
CHINA MARKET: COAL OUT IN THE COLD - BUSINESS RECORDER
Though China maintains there is no ban, China-bound Australian coal shipments are looking for a new home. For the past few months, coal cargoes are ...
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- Trasteel International SA, Italy
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
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