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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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Friday, 08 September 17
MIXED SIGNALS ON REFINERY PREPARATIONS FOR 2020 FUEL CHANGES - IBIA
A recent consultancy survey has suggested that some 85% of refiners have not made plans for how to deal with the expected dramatic fall in g ...
Thursday, 07 September 17
CAPESIZE: EARNINGS FOR THE BIG SHIPS KEEP UP NICELY AS DIPS ARE MODERATE AND SHORT-LIVED - FEARNLEYS
Supramax
Fewer activities in the Atlantic in start of the week with the US holidays. Owners were asking around low USD 20k for trip ex USG to Far ...
Thursday, 07 September 17
TALK OF CONSTRAINTS ON CHINESE COAL OUTPUT PUSHED PRICES HIGHER - DANIEL HYNES
Commodity markets were largely higher as a weaker USD boosted investor appetite.
According to Daniel Hynes, Senior Commodity Strategist at ANZ ...
Wednesday, 06 September 17
LAYTIME - CHARTERERS' RIGHTS & PORT COSTS - NORTH P&I CLUB
KNOWLEDGE TO ELEVATE
In a recent London Arbitration decision (18/17) the Tribunal had to consider whether the owners were entitled to recover ...
Wednesday, 06 September 17
SHIPPING MARKET INSIGHT - STELIOS KOLLINTZAS
The impact of Hurricane Harvey, which made landfall on 25th of August in South East coastline of Texas area has been the major concern of the shipp ...
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Showing 1951 to 1955 news of total 6871 |
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- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- The University of Queensland
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
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