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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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Thursday, 30 March 17
WHERE AN AGREEMENT FAILS TO DELIVER - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
Watson Farley & Williams acted for MRI Trading AG in a leading case on ‘agreements to agree’ that was fin ...
Thursday, 30 March 17
PANAMAX : ACTIVITY IN THE PANAMAX MARKET HAS INCREASED SUBSTANTIALLY IN BOTH HEMISPHERES - FEARNLEYS
Supramax
This week we were looking at prolonged activity from ECSA, mostly with grain cargoes to Far East and SE Asia, where Ultras to SE Asia fi ...
Thursday, 30 March 17
THE ROLE OF COAL IN THE ENERGY SUPPLY OF THE EU-28: HANS-WILHELM SCHIFFER
The European Union (EU-28) is one of the largest economies in the world, with a gross domestic product (GDP) of €14,635 billion in 2015. It ha ...
Wednesday, 29 March 17
MARKET INSIGHT - NASOS SOULAKIS
Shipowners will always look for market signals in order to gauge market perception and decide upon which strategy to follow next. And while owners ...
Monday, 27 March 17
THE FREIGHT MARKET CONTINUED TO FIRM WEEK OVER WEEK
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
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Showing 2086 to 2090 news of total 6871 |
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- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
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