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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, 11 April 16
BDI ROSE TO ITS HIGHEST LEVEL IN FOUR MONTHS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 08 April 16
COASTAL ENERGEN CROSSES GENERATION OF 1068 MW AND EXPORT OF 1004 MW FROM ITS 1200 MW IPP
COALspot.com: Coal & Oil (C&O) Group, an India centric Energy & Infrastructure company announced that their Coastal Energen' ...
Friday, 08 April 16
WEEKLY US COAL PRODUCTION ESTIMATES DIP 5.4% TO 11 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11 million short ...
Friday, 08 April 16
MINISTER OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO ISSUE REGULATION TO GUARANTEE THE COAL SUPPLY TO ITS 35K POWER PLANT PROJECTS
COALspot.com: In order to guarantee the supply of coal for 35,000 megawatt (mw) coal based power plants ( still in planning stage), the Minister of ...
Thursday, 07 April 16
CHINA STEEL CAPACITY CUTS FACE SOCIAL, FINANCIAL HURDLES - FITCH RATINGS
Fitch Ratings says today that the Chinese government's supply-side reform of the steel sector faces immense social and financial challenges. Th ...
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- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- GMR Energy Limited - India
- Videocon Industries ltd - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- PTC India Limited - India
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
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