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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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Wednesday, 30 May 18
HIGH PRICE, DMO ENCOURAGE COAL MINERS TO BOOST PRODUCTION - THE JAKARTA POST
A number of coal miners are planning to increase production by 10 percent in the second half of this year after a worldwide price increase.
Th ...
Wednesday, 30 May 18
SHIPPING MARKET INSIGHT - ILIAS M. LALAOUNIS
Among several hot topics that will be discussed during the Posidonia week, the International Maritime Organization regulation that will be enforced ...
Tuesday, 29 May 18
BLOCKCHAIN CAN HAVE A TRANSFORMATIVE EFFECT ON THE SHIPPING INDUSTRY
KNOWLEDGE TO ELEVATE
Following the launch of a legal briefing on blockchain contracts from UK P&I Club, Claims Executive, Filip Koscieleck ...
Tuesday, 29 May 18
INDIA'S COAL IMPORT DECLINES IN APRIL AMID DIVERSION TO THERMAL POWER PLANTS - PTI
India’s coal import fell by 9 percent to 17.32 million tonnes (MT) in April on the back of ample supply of dry fuel from domestic sources.
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Monday, 28 May 18
COAL SUPPLY DIVERSION IRKS INDUSTRIES DEPENDENT ON CAPTIVE POWER PLANTS - HINDU BUSINESS LINE
The government’s move to prioritise coal supplies to power plants with minimal coal stock has disrupted fuel supply to some sectors, which ha ...
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Showing 1711 to 1715 news of total 6871 |
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- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Australian Coal Association
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Goldman Sachs - Singapore
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
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