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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, 22 January 19
9TH GLOBAL MANUFACTURING SUPPLY CHAIN INNOVATION SUMMIT 2019
Rethinking the supply chain in manufacturing is a must at the digital era along with the industry transforming and innovating; new manufacturing is ...
Tuesday, 22 January 19
AUSTRALIA'S YANCOAL PRODUCED 50 MMT SALEABLE COAL IN 2018 UP 59 PER CENT ON THE YEAR PRIOR, THE QUARTERLY REPORT SHOWS
According to the report, the miner's quarterly (Q4' 18) saleable coal production of 12.4 Mmt. Includes 10.5 Mmt (85 per cent) from the Comp ...
Monday, 21 January 19
KOSPO INVITING BIDS FOR 320K MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV low calo ...
Monday, 21 January 19
SUPRAMAX: INDONESIAN COAL RUNS, TONNAGE WAS GIVING APS DELIVERIES AND A 57,000DWT SHIP FIXED AT $7,000 FOR A TRIP TO WEST COAST INDIA - BALTIC BRIEFING
Capesize
A positive end to a week that saw rates on the West Australia/China run slip below $6.00, as charterers faced a plentiful supply ...
Monday, 21 January 19
HARD COAL WORLD TRADE IN 2018 RISES BY 3.7 PER CENT; GLOBAL HARD COAL PRODUCTION INCREASES BY 1.7 PER CENT - VDKI
Global Hard Coal Production Increases By 1.7%.
According to provisional calculations by the German Coal Importer Association (VDKi), ...
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- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- The University of Queensland
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Australian Coal Association
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
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