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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, 08 August 17
COAL SALES DESTINATION IS DOMINATED BY DEVELOPING COUNTRIES IN ASIA - ADARO
COALspot.com: Adaro Energy has produced 13.27 million tonnes of coal during the second quarter of 2017, from the mines PT Adaro Indonesia, PT Semes ...
Tuesday, 08 August 17
KOMIPO INVITES BIDS FOR 5200 AND 5700 NAR COAL FOR Q4 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 420,000 Metric Tons of Bituminous coal ...
Monday, 07 August 17
INDIA'S THERMAL COAL IMPORTS HAVE FALLEN BY 16% YEAR-ON-YEAR IN THE FIRST FIVE MONTHS OF THIS YEAR
COALspot.com: The second quarter of 2017 was characterized by volatility in the coal market driven by policy measures and weather disruptions say A ...
Monday, 07 August 17
BUMA SIGNED $385 MILLION WORTH OF NEW CONTRACT WITH PT PADA IDI
COALspot.com: PT Delta Dunia Makmur Tbk., has announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into min ...
Monday, 07 August 17
THE SHIPPING INDEXES BOUNCE BACK THIS PAST WEEK
COALspot.com: The Freight market rose this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positive trend week ove ...
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Showing 1981 to 1985 news of total 6871 |
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- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
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- VISA Power Limited - India
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
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