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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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Saturday, 20 October 18
PANAMAX: THE PACIFIC SAW A LARGE VOLUME OF FIXING, WITH INDONESIA AGAIN THE DRIVING FORCE - THE BALTIC BRIEFING
Capesize
A positive end to last week after a shaky start, with a Coaltrans taking participants out of the market early on and with rates slippi ...
Thursday, 18 October 18
SUPRAMAX: INDO/WC INDIA SUPRAS ARE FIXING AROUND MID $14000S P/D BASIS SPORE DELIVERY
Capesize
The volatile Cape market continues this week, especially in the Pacific says Fearnleys in its latest weekly report.
...
Thursday, 18 October 18
COAL SHORTAGE HITS POWER SECTOR AGAIN; HOW INDIA CAN GET ITS PRODUCTION RIGHT - ANIL SWARUP
By convincing states of the value proposition of increased production, the record production of Fy15 & Fy16 can be emulated.
The ...
Thursday, 18 October 18
CHINA POWER REFORM NEUTRAL ON GRIDS, PRESSURES IPP MARGINS - FITCH RATINGS
China's power sector reform has a broadly neutral impact on transmission grids although it will pressure the power producers' margins, says ...
Wednesday, 17 October 18
ESCROW SERVICE FOR BALTIC MEMBERS NOW LIVE
The Baltic Exchange’s Escrow Service for its members to hold deposits for ship sale transactions goes live today (15 October). The service is ...
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Showing 1586 to 1590 news of total 6871 |
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- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
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