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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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Friday, 10 November 17
U.S. COAL OUTPUT FOR THE FIRST 10 MONTHS OF 2017 IS ESTIMATED AT AROUND 656 MMST; UP10% YOY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15 million short tons ...
Wednesday, 08 November 17
COAL MARKETS WERE MIXED; COKING COAL EKING OUT SOME GAINS; THERMAL COAL STRUGGLING - DANIEL HYNES
Coal markets were mixed, with coking coal eking out some gains, while thermal coal struggled amid the falling oil prices, ANZ Strategist said in a ...
Wednesday, 08 November 17
WEEKLY SHIPPING MARKET INSIGHT
If you are a dry bulk owner today you are definitely feeling the pressure of the past couple of years off and given the admittedly unexpected growt ...
Wednesday, 08 November 17
NEW QUAY OPENED AT THE INDUSTRIAL PORT IN BREMEN,GERMAN
Press Release: After a building period lasting three-and-a-half years, the port logistics firm Weserport, the “bremenports” comp ...
Tuesday, 07 November 17
ING JOINS FORCES ON BLOCKCHAIN-BASED PLATFORM FOR ENERGY COMMODITIES SECTOR
Blockchain technology. It’s often been described as the most important invention in computing in a generation.
So it should come as no s ...
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Showing 1886 to 1890 news of total 6871 |
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- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Minerals Council of Australia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- The University of Queensland
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Planning Commission, India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
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