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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, 15 November 17
MARKET INSIGHT - LINOS KOGEVINAS
For another week, oil seems to be the most volatile and interesting commodity to watch. In this segment we’ll look at some of the major facto ...
Tuesday, 14 November 17
COAL STOCKS RUN SHORT, CENTRE TO GET DAILY UPDATE ON STOCKS - DECCAN CHRONICLE
Facing a shortage of coal for thermal power generation in the country, the Central Electricity Authority (CEA) has issued guidelines for maintainin ...
Tuesday, 14 November 17
IN 2018, WORLD OIL DEMAND IS FORESEEN REACHING 1.51 MB/D - OPEC
Oil Market Highlights - OPEC
The OPEC Reference Basket averaged $55.50/b in October, gaining $2.06 over the previous month and reaching the hi ...
Monday, 13 November 17
THERMAL COAL PRICES WERE RELATIVELY UNCHANGED - DANIEL HYNES
Coal prices were broadly higher, driven by strong gains in the metallurgical coal market said Daniel Hynes, Senior Commodity Strategist at ANZ in h ...
Monday, 13 November 17
THIESS AWARDED $300M SANGATTA EXPANSION CONTRACT
Thiess has been awarded a $300 million contract by Kaltim Prima Coal (KPC) to expand operations at Sangatta coal mine in East Kalimantan, Indonesia ...
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Showing 1881 to 1885 news of total 6871 |
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- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- London Commodity Brokers - England
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
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