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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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Friday, 18 May 18
AFTER COAL, INDONESIAN GOVERNMENT PUSHES DMO ON GAS FOR ELECTRICITY
After introducing its domestic market obligation (DMO) policy for coal on March 12, the government is going forward with its plan to introduce a DM ...
Friday, 18 May 18
INDONESIA'S SAMARINDA ANCHORAGE COAL LOADING ACTIVITIES WERE RESUMED YESTERDAY AT 4PM LOCAL TIME
Samarinda Anchorage coal loading activities were resumed yesterday at 4PM local time.
Local fishermen in Samarinda Anchorage have been demonst ...
Wednesday, 16 May 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Half-way through the second quarter of the year and as the Posidonia week approaches everyone is getting ready for this unique gathering that besid ...
Thursday, 10 May 18
PRIVATE POWER PRODUCERS NEED A 'POWERFUL PUSH' - PRADEEP MITTAL
- PLF of the Private Sector in the country (Coal and Lignite based) for FY 2017-18 (till Dec 2017) is 56%.
- 51 GW of stressed assets (Thermal &a ...
Tuesday, 08 May 18
BUMA SIGNED OVER US$1 BILLION WORTH OF NEW CONTRACT WITH PT INDONESIA PRATAMA
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, has entered into mining services contracts with PT Indones ...
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- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- PTC India Limited - India
- MS Steel International - UAE
- Economic Council, Georgia
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
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