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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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Monday, 30 May 16
BCI ENDING AT 830 POINTS, DOWN 4.6 PER CENT W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week. The freight market was weak this past ...
Friday, 27 May 16
PET-COKE IMPORTS TO FACE PRESSURE IN INDIA
COALspot.com: An Indian environmental activist moved the National Green Tribunal seeking ban on the use of all forms of petroleum coke, also called ...
Friday, 27 May 16
US COAL PRODUCTION ROSE 2.9% WOW, ACCORDING TO EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.7 million short tons (mm ...
Thursday, 26 May 16
GIANT ORE CARRIERS SET TO PLAY A BIGGER ROLE IN THE GLOBAL SHIPPING FLEET: CHINA EMBRACES VALEMAXES - RICHARD SCOTT
Another phase of the giant ships era is approaching. Chinese shipowners placed orders recently for 30 huge ‘valemax’ ore carriers. Thes ...
Wednesday, 25 May 16
MEDIATION AS A WAY TO RESOLVE DISPUTES IN THE SHIPPING INDUSTRY - LANA JACOBS
KNOWLEDGE TO ELEVATE
The shipping market is currently experiencing a serious recession with the Baltic Dry Index and Baltic Capesize Index bot ...
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Showing 2416 to 2420 news of total 6871 |
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- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
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