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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, 02 July 18
THIESS SECURES NEW QCOAL NORTHERN HUB $480M CONTRACT
Thiess has been awarded a new A$480 million contract by QCoal to continue operations at the QCoal Northern Hub located in Queensland’s Bowen ...
Friday, 29 June 18
THE LBH GROUP AND RHENUS PLAN TO ESTABLISH A JOINT COMPANY
Press Release: The port services provider, the LBH Group, and the logistics specialist Rhenus, are planning to cooperate closely in the European in ...
Friday, 29 June 18
SUPRAMAX: INDO / CHINA COAL ROUNDS PAYING AROUND USD HIGH 11000 - FEARNLYS
Capesize
Its been an interesting week with a strong demand for ships out of Brazil, making C3 rates remain around USD 19 pmt said Fearnlys in i ...
Friday, 29 June 18
JAPAN'S TOHOKU ELEC, GLENCORE ABANDON APRIL-MARCH COAL CONTRACT TALKS - REUTERS
Japan’s Tohoku Electric Power Co Inc and Glencore Plc have abandoned talks on annual thermal coal supplies after failing to reach an agreemen ...
Wednesday, 27 June 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
After the abolishment of the trade embargo against Iran, there was a lot of optimism from the country’s side, as after quite some time a numb ...
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- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- White Energy Company Limited
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Australian Coal Association
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Independent Power Producers Association of India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
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