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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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Tuesday, 15 September 15
Q2'16 RICHARDS BAY COAL SWAPS DIP TO $ 51.10 PER TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined week over week and month over month.
The 4Q swap was down US$ ...
Tuesday, 15 September 15
API 5 FOB NEWCASTLE COAL SWAP FOR 4Q' 2015 DELIVERY CLOSED AT $42.71 PER TON ON 11 SEPT, SGX DATA SHOWS
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery declined $0.94 per MT (-2.15%) month over month to US$ 42.71 per mt. The sw ...
Monday, 14 September 15
Q1'16 CFR SOUTH CHINA COAL SWAP DECLINED $1.80 PMT M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.62 (3.21 %) per MT month over month.
A commodity ...
Monday, 14 September 15
MOODY'S LOWERS COMMODITY PRICE ASSUMPTIONS ON MACRO, INDUSTRY FACTORS
COALspot.com: Moody's Investors Service has lowered its base metal price assumptions for 2015-17 as slowing growth in China, lower oil prices, ...
Sunday, 13 September 15
FREIGHT RATES ARE EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The BDI decreased further by 6.51 per cent or 57 points since last Friday and closed at 818 on 11 September 2015 while the cape index ...
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Showing 2816 to 2820 news of total 6871 |
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- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Planning Commission, India
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
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