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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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Wednesday, 14 February 18
HISTORY REPEATING ITSELF? - IEA
This month’s OMR is abbreviated to allow time for us to complete our annual five-year outlook that will be published in our report Oil 2018 o ...
Wednesday, 14 February 18
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
The second month of the year is traditionally a particularly interesting one for the shipping industry as a whole and even more importantly for the ...
Monday, 12 February 18
PANAMAX: WITH LIMITED FRESH ENQUIRY IN ALL AREAS, SPOT MARKET RATES DRIFTED LOWER THROUGHOUT THE WEEK - BALTIC BRIEFING
Capesize
A switch to the Atlantic with rates firming as charterers seemed keen to fix and tonnage was tight, prompting a recovery in rates. Trans ...
Monday, 12 February 18
WORLDWIDE: 'DEMURRAGE CLAIMS' FOR THE PURPOSES OF DOCUMENTARY TIME BARS
KNOWLEDGE TO ELEVATE
On 2 February 2018 the Commercial Court allowed an appeal from a decision of the Arbitration Tribunal in Lukoil Asia Paci ...
Saturday, 10 February 18
COAL INDIA ON PATH OF SUSTAINABLE PRODUCTION GROWTH AND SUPPLY TO POWER AND NON POWER SECTOR - PIB
Supply of 371.8 MT of Coal to Power Sector and 103.1 MT Coal to Non-Power Sector Achieved in 2017-18 Till January,2018 Average Rake Loading To The ...
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Showing 1806 to 1810 news of total 6871 |
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- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- The University of Queensland
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Siam City Cement - Thailand
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
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