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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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Tuesday, 27 February 18
SHELL SEES POTENTIAL LNG SUPPLY SHORTAGE AS GLOBAL DEMAND SURGES
Media Release: The global liquefied natural gas (LNG) market has continued to defy expectations of many market observers, with demand growing by 29 ...
Saturday, 24 February 18
CHINA BECOMES WORLD'S SECOND LARGEST LNG IMPORTER, BEHIND JAPAN - EIA
China surpassed South Korea to become the world’s second-largest importer of liquefied natural gas (LNG) in 2017, according to data from IHS ...
Friday, 23 February 18
ESTIMATED U.S. WEEKLY COAL PRODUCTION UP 2.8 PER CENT W/E 17 FEB' 18 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.6 million short tons ...
Thursday, 22 February 18
WHY THE COMMODITY RALLY WILL GET BACK ON TRACK - SIMON FLOWERS
Implications for the US dollar and producers
Are we in the early stages of a sustained rise in commodity prices? And what does it mean for the ...
Thursday, 22 February 18
PANAMAX: IT HAS BEEN A SLOW AND UNEVENTFUL WEEK - FEARNLEYS
Supramax
Slight improvement from Atlantic with more hope for upcoming weeks. More grain cargoes from Black Sea made fhaul rates better again $17- ...
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Showing 1796 to 1800 news of total 6871 |
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- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Planning Commission, India
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
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