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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Tuesday, 01 September 15
FOB INDONESIA COAL SWAPS FURTHER SLIDE TO US$ 40.62 PMT; DECLINE 5.34 PERCENT M-O-M
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and slightly dropped week over week.
The 4Q swap was declined ...
Tuesday, 01 September 15
FOB RICHARDS BAY COAL SWAPS STILL SLIDING; Q2'16 DELIVERY LOST AROUND 6 PERCENT M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 gain week over week but declined month over month.
The 4Q swap was dow ...
Monday, 31 August 15
API 5 FOB NEWCASTLE COAL SWAP GAINS WEEK OVER WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.85 per MT (-4.23%) month over month to US$ 41.87 per mt. The swap ...
Monday, 31 August 15
Q1'16 CFR SOUTH CHINA COAL SWAP ENDS DOWN MORE THAN 4 PERCENT MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.91 (3.78%) per MT month over month.
A commodity ...
Sunday, 30 August 15
THE DRY BULK MARKET UNDOUBTEDLY REMAINS WEAK & VOLATILE THIS WEEK
COALspot.com: The BDI slipped further down this week, moving closer to 900 level. This week’s BDI falls 9.15 pct and closed at 903 points. Wh ...
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- Makarim & Taira - Indonesia
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- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
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- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
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- Global Coal Blending Company Limited - Australia
- The University of Queensland
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- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
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- Ministry of Transport, Egypt
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- Sojitz Corporation - Japan
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- McConnell Dowell - Australia
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- Sindya Power Generating Company Private Ltd
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- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
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- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- MS Steel International - UAE
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- Planning Commission, India
- Economic Council, Georgia
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- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Chettinad Cement Corporation Ltd - India
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- Orica Mining Services - Indonesia
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- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
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- Renaissance Capital - South Africa
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- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
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- Pipit Mutiara Jaya. PT, Indonesia
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- PetroVietnam Power Coal Import and Supply Company
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- Alfred C Toepfer International GmbH - Germany
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- Merrill Lynch Commodities Europe
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- Videocon Industries ltd - India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- SMG Consultants - Indonesia
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- Parry Sugars Refinery, India
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- Australian Coal Association
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- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
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- Thai Mozambique Logistica
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- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Wilmar Investment Holdings
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