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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, 05 July 17
TROUBLE SEEMS TO BE LOOMING ONCE MORE IN THE STEEL INDUSTRY - GEORGE LAZARIDIS
Trouble seems to be looming once more in the steel industry as US President Trump puts forth his plans for specialist protectionist measures for th ...
Friday, 30 June 17
U.S. WEEKLY COAL OUTPUT SLIGHTLY DOWN
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.6 million short tonn ...
Wednesday, 28 June 17
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
From the beginning of the year until now SnP activity has changed significantly. To put things into perspective, after a fast and furious q1 on the ...
Monday, 26 June 17
PANAMAX/KAMARMAXES HAD A STRONG WEEK WITH RATES RISING IN MOST AREAS OF THE MARKET - BALTICEXCHANGE
Capesize
A dark cloud appeared to have descended over the market for the big ships with rates continuing to slide in all areas. There was a repor ...
Friday, 23 June 17
U.S. WEEKLY COAL PRODUCTION TOTALED APPROXIMATELY 15.8 MMST; UP 1.8% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.8 million short tonn ...
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Showing 2016 to 2020 news of total 6871 |
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- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
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