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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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Thursday, 01 February 18
RISING US OIL EXPORTS, MARKET DISRUPTION, BRENT-WTI SPREAD - WOOD MACKENZIE
What will US tight oil growth do to crude markets? The build-up in volumes early this decade led to a supply glut that undermined prices in 2014.
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Wednesday, 31 January 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
Days before the celebrations of the Lunar New Year, the dry bulk market seems to be holding well, against negative predictions. Period numbers repo ...
Monday, 29 January 18
BALTIC INDEX GAINS ON STRONGER BIG VESSEL ACTIVITY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week and ending on a positive note week ov ...
Monday, 29 January 18
U.S.WEEKLY COAL OUTPUT UP 8.7% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.6 million short tons ...
Wednesday, 24 January 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Since the beginning of the New Year we have been witnessing the BDI correcting downwards, which nonetheless seems to have no effect at ...
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Showing 1821 to 1825 news of total 6871 |
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- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
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