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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, 12 September 17
KOMIPO TO IMPORT 2.5 MILLION TONS OF 5700 NAR COAL FOR 5 YEARS
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 500,000 Metric Tons of Bituminous ...
Monday, 11 September 17
A PUNCHY WEEK FOR THE BIG SHIPS AS THE RATE FOR WEST AUSTRALIA TO CHINA HIT $8.00 THE FIRST TIME IN NEARLY THREE YEARS - BALTIC EXCHANGE
Capesize
A punchy week for the big ships as the rate for West Australia/China hit $8.00 the first time in nearly three years. A Jiangsu Steamship ...
Monday, 11 September 17
INDONESIAN ICPR SURGES HIGHER, POSTS BIGGEST MONTHLY RISE SINCE DECEMBER 2016, ESDM DATA SHOWS
COALspot.com: Indonesian coal benchmark price surges 9.60% in September, government data showed.
The benchmark price of Indonesian th ...
Monday, 11 September 17
KOMIPO INVITED BIDS FOR TOTAL 6.235 MMT OF 5700 AND 5100 NAR COAL FOR 2017 TO 2022 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 1,590,000 Metric Tons of Bitumino ...
Monday, 11 September 17
THE FREIGHT MARKET ROSE WEEK OVER WEEK; BCI UP 22.22% & BPI UP 14.77%
COALspot.com: The freight market rose in all segments week over week. Mainly Cape and Panamax have supported to pushed up BDI this past week, BDI, ...
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Showing 1946 to 1950 news of total 6871 |
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- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Australian Coal Association
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- MS Steel International - UAE
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- The University of Queensland
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
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