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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, 07 May 18
BENCHMARK PRICE OF INDONESIAN THERMAL COAL DROPPED BACK BELOW $90 A TON THIS MONTH
COALspot.com: According to latest ministerial decree No. 1812 K/30/MEM/2018 dated 3 May 2018, the Indonesian Coal Price Reference (HBA) decline 5.5 ...
Monday, 07 May 18
SOUTH KOREA STATE-OWNED UTILITY KOREA MIDLAND POWER ISSUED A TENDER FOR 1 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 mt of min. 5700 NAR coal of Australian origi ...
Monday, 07 May 18
GLOBAL COAL DEMAND ROSE ABOUT 1% IN 2017; ASIA ACCOUNTED FOR THE LARGEST INCREASE IN COAL DEMAND, UP 35 MTOE RELATIVE TO 2016 - IEA
Global coal demand rose about 1% in 2017, reversing the declining trend seen over the last two years. This growth was mainly due to demand in Asia, ...
Friday, 04 May 18
ELECTRICITY GENERATION FROM RENEWABLES WAS SECOND ONLY TO COAL IN 2017 - IEA
World electricity demand increased by 3.1 %, significantly higher than the overall increase in energy demand. Together, China and India accounted f ...
Thursday, 03 May 18
SUPRAMAX: INDO - CHINA COAL ROUNDS ARE PAYING IN THE LOW-MID $12000 BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
As expected a slow and uneventful start to the week with holidays in many countries, however by mid-week some fresh requirements and pos ...
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Showing 1726 to 1730 news of total 6871 |
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- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- The University of Queensland
- Marubeni Corporation - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
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