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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, 04 August 17
U.S. WEEKLY COAL OUTPUT UP 4.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 16.1 million short tonn ...
Friday, 04 August 17
IMPORTED COAL CONTINUES TO BE A COMPETITIVE, SAFE AND RELIABLE ENERGY SOURCE FOR GERMANY - VDKI
COALspot.com: Worldwide hard coal production in 2016 declined by 3.8% to 6.7 billion tonnes.
According to the Germany Coal Importers Associati ...
Thursday, 03 August 17
SUPRAMAX: INDO TO CHINA COAL ROUNDS ARE GETTING FIXED AROUND MID $8000 - FEARNLEYS
In the Pacific rates have remained weak and under pressure this week with most routes softening.
Indo/China coal rounds are getting fixed arou ...
Thursday, 03 August 17
BUMI RESOURCES COAL SALES RELATIVELY FLAT AT 41.5 MILLION TONS IN 1H' 17; REPORTS US$162.3 MILLION PROFIT IN FIRST SEMESTER
COALspot.com: The BUMI Resources, Indonesia’s one of the largest coal producer, has reported a net income of $162.3 million in 1H’ 17 c ...
Wednesday, 02 August 17
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
During the duration of the first half of the year, the dry bulk market saw intense buying interest that boosted SnP prices significantly. We saw a ...
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Showing 1986 to 1990 news of total 6871 |
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- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Minerals Council of Australia
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- White Energy Company Limited
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
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