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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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Wednesday, 19 July 17
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Referring back to a previous Intermodal insight that was written in the first quarter of 2017, the author at the time had claimed that MR tanker ra ...
Tuesday, 18 July 17
CHINA'S ECONOMY HAS BOOSTED OPTIMISM IN THE MARKET - GEORGE LAZARIDIS
COALspot.com: China’s economy has boosted optimism in the market as its recently announced GDP growth for the second quarter of the year exce ...
Friday, 14 July 17
IMPORTED COAL IS STILL A SAFE AND RELIABLE SOURCE OF ENERGY IN GERMANY - VDKI
COALspot.com: Imported coal is still a safe and reliable source of energy in Germany. World coal mining has reached a high plateau, but not yet a t ...
Friday, 14 July 17
U.S. WEEKLY COAL-OUTPUT IN SIGNIFICANT DECLINE, EIA FIGURES SHOW
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.4 million short tonn ...
Thursday, 13 July 17
BELT AND ROAD SHIPPING INDICES OFFICIALLY RELEASED - XINHUA
COALspot.com: The Shanghai Shipping Exchange (SSE) Tuesday officially launched the Belt and Road shipping indices to track freight trade data among ...
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Showing 2001 to 2005 news of total 6871 |
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- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
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