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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, 18 November 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.8 MMST, DOWN 0.8%, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Thursday, 17 November 16
FROTHY THERMAL COAL PRICES POINT TO DOWNSIDE PRESSURES IN 2017 - FITCH
Fitch Ratings says in an Outlook Report that the Asian thermal coal industry will remain under pressure in 2017 due to more-than-adequate capacity ...
Thursday, 17 November 16
CHINA STEEL EXPORTS TO REMAIN HIGH IN 2017, FITCH SAYS
Fitch Ratings expects Chinese steel exports to remain at around 100 million metric tons (Mt) in 2017, due to flat 'apparent' consumption an ...
Wednesday, 16 November 16
SHIPPING MARKET INSIGHT
Going through a relatively interesting second half of the year so far in the ship repair sector, we are experiencing a volatile climate of differen ...
Tuesday, 15 November 16
CHINA, FOR MANY YEARS NOW HAS SERVED AS A MAJOR GROWTH ENGINE FOR ASIA - ALLIED SHIPPING RESEARCH
It’s been a turbulent couple of days after the announcement of the U.S. Presidential results in the early hours of Wednesday.
After week ...
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- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- VISA Power Limited - India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- PTC India Limited - India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
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