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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, 19 August 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 421.6 MMST
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.8 million short ton ...
Thursday, 18 August 16
CAPESIZE: AN EXTREMELY VOLATILE LAST WEEK, WHERE THE MAIN DRIVER HAS BEEN THE WEST AUSTRALIA MARKET
Supramax
The week has held up. After the most of the world is back at work there is some optimism again in the market. The Far East volume has in ...
Tuesday, 16 August 16
WEEKLY CS42 COAL INDEX SOARS 14.08% YEAR TO DATE AMID HIGH DEMAND
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 2.37% week over week to averaging $42.84 per ton this past week, shows CS (i) C ...
Monday, 15 August 16
DRY BULK: 2017 COULD MARK THE START OF LOWER SHIP DELIVERIES HELPING TONNAGE SUPPLY ISSUES IN THE MARKET, SAYS SHIPOWNER - HELLENIC SHIPPING NEWS
Dry bulk owner Pacific Basin, mainly active in the Handysize and Supramax trades appeared optimistic in its analysis of the prospects of the dry bu ...
Monday, 15 August 16
INDONESIAN COAL PRICES RALLYING; COAL OUTPUT REMAINS FLAT
COALspot.com: Global thermal coal prices, including Indonesian coal prices have risen sharply due to jump in imports from China as it curbs domesti ...
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- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- White Energy Company Limited
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
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