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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, 20 May 16
U.S COAL PRODUCTION FOR THE WEEK ENDED 14 MAY TOTALED 11.4 MMST; UP 3.8% W/W
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.4 million short tons (mm ...
Thursday, 19 May 16
AUSTRALIAN IRON ORE CARGOES PUSHED UP THE FREIGHT RATES FOR CAPE THIS WEEK - FEARNLEYS
Cape
It has been a big jump in the freight rates for Cape size this week, says Fearnleys in its latest weekly report. All of the Australian iron ...
Thursday, 19 May 16
DISPUTE OVER VAT ON COAL DRAGS ON, CAUSING DOUBLE-BLOW TO MINERS - JP
The dispute over the value-added tax ( VAT ) mechanism between coal miners operating under third-generation contracts and the Finance Ministry&rsqu ...
Wednesday, 18 May 16
DRY BULK OUTLOOK REMAINS GLOOMY SAYS DANISH SHIP FINANCE, AS SHIPPING NEEDS TO RETHINK BUSINESS MODEL - HELLENIC SHIPPING
Our Shipping Market Review – May 2016 is devoted to the fourth industrial revolution. To understand the truly disruptive nature of the fourth ...
Wednesday, 18 May 16
LONG TERM FUNDAMENTALS ARE SLOWLY IMPROVING FOR THE DRY BULK MARKET - INTERMODAL
As we are approaching the end of the first half of the year, there is a number of market participants over at the dry bulk sector that have started ...
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Showing 2426 to 2430 news of total 6871 |
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- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- PTC India Limited - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
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