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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, 17 September 18
GLENCORE RETURNS TO JAPAN COAL TALKS SCUPPERED BY HIGH PRICES - BLOOMBERG
Mining giant Glencore Plc and Japanese utilities have resumed thermal coal supply negotiations, restarting talks that fell apart earlier this year ...
Monday, 17 September 18
SMALL PERCENTAGE OF THE WORLD FLEET WILL FIT SCRUBBERS - FORECASTS : METTE KRONHOLM FRAENDE
In recent months, there have been numerous reports of a strong pick-up in demand for scrubbers. On 1 January 2020, however, the number of ships fit ...
Saturday, 15 September 18
POWERING SUSTAINABLE DEVELOPMENT WITH LOW EMISSION COAL TECHNOLOGIES - WCA
In its 5th Strategic Energy Plan this year (2018), the Japanese Cabinet recognised coal as an important energy resource, necessary for the country& ...
Friday, 14 September 18
10 YEARS ON FROM LEHMAN, HOW IS SHIPPING'S "HANGOVER"? - CLARKSONS RESEARCH
On 15th September 2008, the collapse of Lehman Brothers crystallised the financial crisis and the onset the worst economic downturn for a century. ...
Thursday, 13 September 18
OPEC SEES SLOWER 2019 OIL DEMAND GROWTH, WARNS ON ECONOMY
Crude Oil Price Movements
In August, the OPEC Reference Basket declined by $1.01 m-o-m, settling at $72.26/b. Crude oil futures were also down ...
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Showing 1616 to 1620 news of total 6871 |
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- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- PTC India Limited - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- The University of Queensland
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- White Energy Company Limited
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Economic Council, Georgia
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