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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, 20 July 16
EDIBLE OIL MARKETS ACROSS THE GLOBE REMAIN UNDER PRESSURE - STELIOS KOLLINTZAS
The edible oil markets across the globe remain under pressure on the back of lackluster demand. Some of the main factors causing the low activity a ...
Tuesday, 19 July 16
INDONESIAN THERMAL COAL INDEXES CONTINUALLY FIRM UP ON ROBUST BUYING INTEREST - CS COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose One percent week over week to averaging $40.38 per ton this past week, shows CS ...
Monday, 18 July 16
FROM PIT TO PORT: DRY BULK NEEDS A NEW PATH TO PROFITABILITY - TOC EUROPE
During the golden years for commodities, from 2005 to 2014, high demand and big profit margins pushed companies to produce more and more, sacrifici ...
Monday, 18 July 16
BALTIC DRY INDEX REMAIN FIRM, UP BY 5.97 WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to remain firm with all segments ending in posi ...
Friday, 15 July 16
US COAL PRODUCTION DOWN 8.4% WEEK-OVER-WEEK
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 12.9 million short tons (mms ...
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- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Central Electricity Authority - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
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