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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, 02 June 17
U.S THE PAST WEEK'S COAL PRODUCTION ESTIMATE UP 4.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15 million short tonnes ...
Wednesday, 31 May 17
MARKET INSIGHT - KONSTANTINOS KAKAVITSAS
In the next episode of the oil market; The market reacts to OPEC’s production cut extension, the US shale oil producers are ruining the carte ...
Tuesday, 30 May 17
MARKET ANALYSIS - GEORGE LAZARIDIS
Despite the fair performance that has been noted in the Chinese economy over the past 5 months, we have started to see an increase in the skepticis ...
Friday, 26 May 17
MOST COAL PLANTS IN THE UNITED STATES WERE BUILT BEFORE 1990 - EIA
Coal-fired electricity generators accounted for 25% of operating electricity generating capacity in the United States and generated about 30% of U. ...
Friday, 26 May 17
U.S WEEKLY COAL OUTPUT ESTIMATE UP 6.3% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.3 million short ton ...
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- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- White Energy Company Limited
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Parliament of New Zealand
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
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