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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, 18 April 16
INDONESIAN 5000 GAR COAL INDEX DECLINE 1.43 PERCENT WEEK OVER WEEK - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 1.43 percent week over week to averaging $38.65 per ton on this past Friday, ac ...
Monday, 18 April 16
SOUTH KOREA STATE-OWNED UTILITY KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 70,000 Metric Tons of 4,600 kcal/kg NAR coal for ...
Monday, 18 April 16
SOUTH AFRICA RB1 COAL HAS LOST GROUND IN INDIA; RB2 MAY LOSE GRIP IF THE PRICE CROSSES US$ 50 A TON - TRADERS
COALspot.com: Indian coal consumers preferred to buy South Africa RB2 coal instead of RB1 coal recent months due to RB2's low CFR price level. ...
Monday, 18 April 16
CAPESIZE INDEX ROSE 44.66 PER CENT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 15 April 16
PANAMAX MARKET CONTINUES TO FIRM - FEARNLEYS
Cape
It has been a positive freight market for the past few weeks, however, this week the market is taking a small breather, says Fearnleys in it ...
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- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Australian Coal Association
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Eastern Energy - Thailand
- The University of Queensland
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
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