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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, 14 August 17
THE FREIGHT MARKET CONTINUES ON AN UPWARD PATH
COALspot.com: The freight market was continued to rose this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positi ...
Monday, 14 August 17
IN A PARIS AGREEMENT WORLD, COAL WILL MEET GROWING ASIAN ENERGY NEEDS - BENJAMIN SPORTON
When providing 41% of the world’s electricity, 85% of global cement, 74% of the world’s steel and 60% of the world’s aluminum, co ...
Friday, 11 August 17
KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 1,280,000 Metric Tons of Bitumino ...
Friday, 11 August 17
U.S WEEKLY COAL OUTPUT ALMOST FLAT WEEK OVER WEEK, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 16.1 million short tonn ...
Thursday, 10 August 17
GLOBAL COAL PRODUCTION FELL SIGNIFICANTLY IN 2016 - IEA
COALspot.com: Global coal production fell significantly in 2016, while global trade in natural gas was up. These are two of the key messages in Wor ...
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Showing 1971 to 1975 news of total 6871 |
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- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
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