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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, 05 December 17
OIL PRICES HAVE GAINED SOME TRACTION THESE PAST FEW DAYS ON TALKS OF ANOTHER OPEC & RUSSIA PRODUCTION CUT EXTENSION - GERRY LATHROP
Oil prices have gained some traction these past few days on talks of another OPEC (including non-OPEC Russia) production cut extension.
The cu ...
Tuesday, 05 December 17
THE COKING AND THERMAL COAL RECORDING SMALL GAINS - DANIEL HYNES
Coal markets were higher, with both coking and thermal coal recording small gains, said Daniel Hynes Senior Commodity Strategist at ANZ in his late ...
Tuesday, 05 December 17
WEEKLY US COAL PRODUCTION ESTIMATES DIP WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.1 million short ton ...
Thursday, 30 November 17
CONTEMPLATING COAL'S CONTROVERSY AT COP23 - BENJAMIN SPORTON
Representing the coal industry at climate talks is never going to be an easy proposition. For many people, coal and climate action are incompatible ...
Wednesday, 29 November 17
THE LAST DAYS OF COAL? - ALIBRA SHIPPING
At least 15 countries have joined an international alliance to phase out coal use for power generation before 2030.
Britain, Canada, Denmark, ...
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Showing 1861 to 1865 news of total 6871 |
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- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Central Electricity Authority - India
- The University of Queensland
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- ASAPP Information Group - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
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