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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Tuesday, 03 October 17
RIO TINTO COMPLETES FIRST FULLY AUTONOMOUS RAIL JOURNEY IN WESTERN AUSTRALIA
Rio Tinto has successfully completed the first fully autonomous rail journey at its iron ore operations in the Pilbara region of Western Australia ...
Tuesday, 03 October 17
ALLIED MARKET ANALYSIS
It seems as though the future of the oil trade was once again put into the spotlight, as the Asia Pacific Petroleum Conference took place last week ...
Friday, 29 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FIFTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.7 million short ...
Thursday, 28 September 17
SUPRAMAX: S.CHINA TRIP TO INDIA HAS BEEN FIXED AT AROUND US$ 11000 - FEARNLEYS
Supramax
The hot market seen the last weeks in the Pacific has softened as the Golden week holiday in China approaches and the October shipments ...
Thursday, 28 September 17
THE 'UNREASONABLE' COST OF CASUALTY REPAIRS: ASSOCIATION OF AVERAGE ADJUSTERS CHAIRMAN DETAILS CLAIMS DILEMMAS
KNOWLEDGE TO ELEVATE
The ‘unreasonable’ cost of casualty repairs: Association of Average Adjusters chairman details claims dilemma ...
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Showing 1926 to 1930 news of total 6871 |
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- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- The University of Queensland
- Star Paper Mills Limited - India
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