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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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Thursday, 28 September 17
CHINESE GOVERNMENT TO CANCEL DOMESTIC IRON ORE MINING RIGHTS - JEFFREY LANDSBERG
It has been reported that China will cancel roughly one third of its iron ore mining licenses, says Commodore Research & Consultancy in its lat ...
Tuesday, 26 September 17
REDUCING THE RISK OF LIQUEFACTION - IUMI
KNOWLEDGE TO ELEVATE
Liquefaction is a phenomenon that can take place in granular materials, such as soil or fine ore, where the beh ...
Tuesday, 26 September 17
THE CURRENT HIGHS IN THE DRY BULK FREIGHT MARKET WILL SURELY BE SURPASSED AND BY A CONSIDERABLE MARGIN IN THE NEXT YEAR OR SO - GEORGE LAZARIDIS
The Dry Bulk market con!nues to show a strong face amidst the favorable tail winds being seen, which have helped the Bal!c Dry Index inch above the ...
Monday, 25 September 17
CHOICES FOR SHIPPING AS 2020 APPROACHES? - CLARKSONS
Historically, the fuel of choice for the vast majority of large cargo ships has been heavy fuel oil. But in 2020, sulphur oxide emissions will be c ...
Monday, 25 September 17
THE FREIGHT MARKET ROSE IN ALL SEGMENTS EXCEPT PANAMAX WEEK OVER WEEK
COALspot.com: The freight market rose in all segments except Panamax week over week. Mainly Cape has supported to boosted up BDI this past week, BD ...
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Showing 1931 to 1935 news of total 6871 |
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- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
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