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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, 23 January 18
OIL MARKET ANALYSIS - ALLIED
Brent oil futures hit a three year high on January 16th touching around USD 70.30 before falling back down to around USD 68.60 at the Time of this ...
Friday, 19 January 18
U.S. WEEKLY COAL OUTPUT WAS 13.5 MMST FOR THE WEEK ENDING JANUARY 13, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.5 million short tons ...
Thursday, 18 January 18
WORLD TRADE IN HARD COAL RISES BY 1.5% IN 2017 - KOHLENIMPORTEURE
Press Release: World Trade in Hard Coal Rises by 1.5% in 2017. German Steam Coal Imports Plummet by 15% in 2017 – in Contrast to Other Sector ...
Wednesday, 17 January 18
SHIPPING MARKET INSIGHT - INTERMODAL
As we are now well into the first month of 2018, the mood across the entire offshore industry undeniably remains rather positive following the oil ...
Monday, 15 January 18
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO WEAK THIS WEEK - VISTAAR
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
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Showing 1826 to 1830 news of total 6871 |
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- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- PTC India Limited - India
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