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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, 11 March 16
ADANI GLOBAL BAGS 0.26 MILLION TONS OF COAL CONTRACT FROM LANKA COAL COMPANY
COALspot.com: Lanka Coal Company (Private) Limited, Sri Lanka has awarded 260,000 +/- 10% tons of Power plant 6300 GAR calorific value coal to Adan ...
Friday, 11 March 16
US WEEKLY COAL PRODUCTION DOWN BY 0.5 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.6 million shor ...
Friday, 11 March 16
FORTESCUE'S MOU WITH VALE COULD STRENGTHEN ITS BUSINESS PROFILE - FITCH
COALspot.com: Fitch Ratings says that Australia-based Fortescue Metals Group Limited's (BB+/Negative) memorandum of understanding (MOU) with Br ...
Thursday, 10 March 16
CHINA'S NEW POLICY PLAN COULD BE POSITIVE FOR SHIPPING, BUT TARGETS SEEM RATHER AMBITIOUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
China set out its new policy plan during the course of the past weekend, but it seems to have set some very ambitious goals, which could be difficu ...
Thursday, 10 March 16
U.S. COAL EXPORTS DECLINED 23% IN 2015, AS COAL IMPORTS REMAINED STEADY
COALspot.com: The United States remains a net exporter of coal, exporting 74.0 million short tons (MMst) and importing 11 MMst in 2015.
Accord ...
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- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Central Electricity Authority - India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
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