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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, 25 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FOURTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.5 million short ton ...
Wednesday, 20 September 17
SHIPPING MARKET INSIGHT - INTERMODAL
An undoubtedly interesting market lately is the newbuilding market, in which we are witnessing numerous orders across all sectors and sizes. At the ...
Monday, 18 September 17
COAL PRICES WERE RELATIVELY UNCHANGED WEEK OVER WEEK - ANZ
COALspot.com: Coal prices were relatively unchanged, with most interest remaining in the thermal coal market said Daniel Hynes. However, falling st ...
Monday, 18 September 17
PROSPECTS ARE NOT SO CLEAR CUT FOR COAL - CLARKSONS
Prospects are not so clear-cut for coal. According to Clarksons, coal has been a key energy source since the Industrial Revolution and in 2016, ste ...
Friday, 15 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE THIRD WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
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Showing 1936 to 1940 news of total 6871 |
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- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
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