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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, 05 September 17
COAL: A STRONG MOVEMENT IN THE COAL MARKET OVER THE SUMMER MONTHS - GEORGE LAZARIDIS
We have been witnessing a strong movement in the coal market over the summer months something that has not only helped boost prices for the commodi ...
Friday, 01 September 17
U.S COAL OUTPUT DIPS WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 31 August 17
SUPRAMAX: INDO TO CHINA COAL TRIPS AT AROUND $9000, DELIVERY THAILAND - FEARNLEYS
Supramax
A bit slow start to the week with UK holidays on Monday. Still strong rates for cargoes out of Black Sea, where front hauls where done $ ...
Tuesday, 29 August 17
WEEKLY SHIPPING MARKET ANALYSIS - ALLIED
In the aftermath of Hurricane Harvey, one of the worst disasters to hit Texas, we are now looking to get a clearer picture of the possible disrupti ...
Tuesday, 29 August 17
U.S WEEKLY COAL OUT UP 3.4% WEEK OVER WEEK TO APPROX. 17 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tonne ...
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Showing 1956 to 1960 news of total 6871 |
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- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- White Energy Company Limited
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
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