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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, 02 March 18
ANGLO AMERICAN COMPLETES SALE OF ESKOM-TIED THERMAL COAL OPERATIONS IN SOUTH AFRICA
Anglo American plc (“Anglo American”) confirms completion of the sale of its Eskom-tied domestic thermal coal operations in South Afric ...
Friday, 02 March 18
MORE COAL INQUIRES FROM SOUTH AFRICA TO INDIA; SUPRAS FIXED CA $12K + BB - FEARNLEYS
Supramax
Better rates in Atlantic, but not too busy market just yet.
Black Sea catched improving rates for grain cargoes, where supras to Eg ...
Friday, 02 March 18
U.S. WEEKLY COAL PRODUCTION DOWN 2.7 PER CENT W/E 24 FEB, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Wednesday, 28 February 18
INDIA: TEPID COAL TRAFFIC TO HIT VOLUME GROWTH AT PORTS TILL 2022 - PTI
Cargo growth at the country’s major ports is all set to moderate to 3-5 per cent per annum over the next five years due to the “sedate ...
Wednesday, 28 February 18
MARKET INSIGHT - LINOS KOGEVINAS
US Shale production continues to grow rapidly, hitting new records and with projections being revised upwardly at every turn. According to the Inte ...
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- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Australian Coal Association
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
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