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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, 25 October 17
COAL MARKETS REMAINED SUBDUED - DANIEL HYNES
Coal markets remained subdued.
Daniel Hynes, Senior Commodity Strategist at ANZ, Coking coal prices were unchanged amid an absence of fresh of ...
Wednesday, 25 October 17
SHIPPING MARKET REPORT - INTERMODAL
While the majority of perspective Buyers in the dry bulk second-hand market is currently focusing on modern tonnage, there is also increased activi ...
Tuesday, 24 October 17
KOMIPO INVITED BIDS FOR MIN. 4600 NAR BLENDED SUB-BITUMINOUS COAL OF INDONESIAN ORIGIN FOR BORYEONG OR NEW BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 5,000,000 Metric Tons of blended sub-bi ...
Tuesday, 24 October 17
CHINA'S INSATIABLE APPETITE FOR THIS ENERGY COMMODITY CONTINUES STRONG - GEORGE LAZARIDIS
Crude oil prices have been seeing some support emerge this past week as supply disruptions in Iraq and a drop in US drilling has helped bolster oil ...
Friday, 20 October 17
U.S COAL PRODUCTION FELL 1.45 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
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Showing 1906 to 1910 news of total 6871 |
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- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Interocean Group of Companies - India
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- PTC India Limited - India
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
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