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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 20 July 15
CFR SOUTH CHINA COAL SWAPS GAIN WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 1.18 (2.27%) per MT month over month.
A commodity swap ...
Sunday, 19 July 15
BDI GAINED AND CROSSED 1000 MARK THIS WEEK
COALspot.com: The BDI gained and crossed 1000 mark after many months this Friday. The BDI was up almost 20 pct and closed 1048 points on 17 July 20 ...
Saturday, 18 July 15
INTERVIEW : FRANZ ESCALANTE, CHIEF OF INFORMATION SYSTEMS, MINERA CHINALCO, PERU
We are interested in the technology of Autonomous trucks, the new-generation trucks are not remote controlled, they are truly autonomous - Franz Es ...
Friday, 17 July 15
COAL PRODUCTION IN THE U.S. INCREASES SHARPLY FOR THE WEEK ENDING JULY 11
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.4 million short ...
Friday, 17 July 15
INDONESIAN POWER-STATION COAL SWAPS DECLINE CONTINUES THIS PAST WEEK
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and week over week, this past week.
The Q3 swap was declined $ ...
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- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
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