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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 April 18
THIESS SECURES $240M SATUI EXTENSION
The successful implementation of an innovative mining plan by Thiess at the Satui coal mine in South Kalimantan, has resulted in a $240 million con ...
Friday, 30 March 18
SHIPPING INDUSTRY CONFIDENCE HITS FOUR-YEAR HIGH - MOORE STEPHENS
Shipping Confidence Survey
In February 2018, the average confidence level expressed by respondents was up from 6.2 in November 2017 t ...
Friday, 30 March 18
EXPLAINING POLAND'S COAL PARADOX - FORBES
In the U.S. coal is succumbing to market forces despite the Trump Administration’s push to support the industry. Abundant, cheap and cleaner ...
Friday, 30 March 18
THIESS SECURES $140M MT OWEN INCREASE
Thiess has secured a A$140 million increase to its contract with Glencore for coal mining services at Mt Owen in the Hunter Valley, Australia. Mt O ...
Wednesday, 28 March 18
THIESS WINS $280M WAHANA EXTENSION
Thiess has been awarded a three-year $280 million contract extension at the Wahana coal mine in South Kalimantan, Indonesia.
According to Thie ...
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- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- The University of Queensland
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
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