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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, 27 December 17
SULPHUR EMISSIONS: THE OUTSTANDING CHALLENGES - UK P&I CLUB
The International Maritime Organization (IMO) has been working to reduce the harmful impacts of shipping on the environment.
It adopted Annex ...
Friday, 22 December 17
COAL INDIA BOARD CLEARS THE WAY FOR SCHEME FOR HARNESSING AND ALLOCATING KOYALA (COAL) TRANSPARENTLY IN INDIA - PIB
The Coal India Limited (CIL) Board cleared the decks for signing of Fuel Supply Agreement (FSA), for supply of coal.
According to Press Inform ...
Friday, 22 December 17
WILL THE DRY BULK INDUSTRY BECOME PROFITABLE IN 2018? - PETER SAND, BIMCO
As the dry bulk fleet is already expected to grow at a pace that matches demand growth expected in 2019, focus must be on improving the fundamental ...
Friday, 22 December 17
ESTIMATED U.S. WEEKLY COAL OUTPUT SLIPS SLIGHTLY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Thursday, 21 December 17
COAL CONSUMPTION DROPS AS GAS AND RENEWABLES CHEW INTO TRADITIONAL MARKETS - BABS MCHUGH
"The share of coal in the global energy mix is forecast to decline from 27 per cent last year to 26 per cent in 2022"
Global demand ...
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Showing 1841 to 1845 news of total 6871 |
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- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- PTC India Limited - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Planning Commission, India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
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