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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, 05 June 18
SOUTH KOREA'S SULPHUR CAP ALTERS ASIAN COAL MARKET DYNAMICS: RUSSELL
South Korea’s imposition of a strict sulphur cap on its imported coal is likely to cause ripples across Asia’s markets for the pollutin ...
Tuesday, 05 June 18
THINGS STILL LOOK TO BE PROMISING FOR THE DRY BULK MARKET OVER THE NEXT COUPLE OF MONTHS - GEORGE LAZARIDIS
Just as we thought the world was calming back down to reason, worries and frictions regarding global trade resurfaced this past week after a series ...
Tuesday, 05 June 18
INDONESIAN COAL PRICE REFERENCE IS GOING UP AGAIN
COALspot.com: According to latest ministerial decree No. 1857 K/30/MEM/2018 dated 4 June 2018, the Indonesian Coal Price Reference (HBA) up 7.91 pe ...
Saturday, 02 June 18
HOW CARBON UTILISATION WILL BE A KEY STEP IN INDIA'S CLIMATE STRATEGY - BENJAMIN SPORTON
For India, energy remains the key driver of growth, not only from an economic perspective but more importantly for accelerating social development. ...
Thursday, 31 May 18
SUPRAMAX: INDO/CHINA COAL RV IS GETTING FIXED AROUND $13K DELIVERY SINGAPORE - FEARNLEYS
Capesize
The Cape market has been on a downward trend for the past week.
According to Fearnleys, Oslo based broker, Brazil market ...
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Showing 1706 to 1710 news of total 6871 |
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- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
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