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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, 31 July 17
KOMIPO INVITES BIDS FOR 750K MT OF 5,700 KCAL/KG NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 750,000 Metric Tons of Bituminous coal for its B ...
Monday, 31 July 17
THE PORT OF NEWCASTLE SHIPPED 17.08 PERCENT LESS COAL IN JUNE 2017 COMPARED TO ITS MAY LOADING
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1,442.8 ...
Monday, 31 July 17
THE FREIGHT MARKET DECLINE THIS PAST WEEK
COALspot.com: The Freight market decline this past week compared to the previous week, as BDI and Panamax indexes show a negative trend week over w ...
Friday, 28 July 17
U.S. WEEKLY COAL PRODUCTION UP 1.4% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tonn ...
Thursday, 27 July 17
CAMPBELL SHIPPING APPOINTS ISS FOR GLOBAL HUSBANDRY REPRESENTATION SERVICES CONTRACT - ISS
COALspot.com: Inchcape Shipping Services (ISS) is delighted to announce that it has secured a global husbandry representation contract with Campbel ...
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Showing 1991 to 1995 news of total 6871 |
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- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
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