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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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Monday, 09 October 17
INDONESIAN COAL PRICE REFERENCE HITS NEW HIGH FOR 2017
COALspot.com: Indonesian coal benchmark price surges 2.13% in October month over month, the latest ministerial decree showed.
The benchmark pr ...
Monday, 09 October 17
INDIA'S COAL IMPORTS UP 10% IN SEPT AS POWER PLANTS FACE FUEL SHORTAGE - PTI
Coal imports rose by 9.5 per cent to 18.33 million tonnes (MT) in September, after having registered year-on-year decline for five months in a row, ...
Friday, 06 October 17
U.S. WEEKLY COAL OUTPUT HAS REBOUNDED AFTER DECLINING 5 WEEKS IN A ROW
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tons ...
Wednesday, 04 October 17
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
During the past couple of months the dry bulk market has displayed particularly strong momentum and we have been witnessing steady appetite and act ...
Tuesday, 03 October 17
VIETNAM'S COAL-FIRED THERMAL POWER DEPENDENT ON CHINA - VIETNAMNET BRIDGE
A report from the Green Innovation and Development Centre (GreenID) showed that, as of the end of last year, of 27 coal-fired thermopower plants, 1 ...
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Showing 1921 to 1925 news of total 6871 |
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- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- VISA Power Limited - India
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