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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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Wednesday, 15 July 15
SAS TO BUILD 108 KM ROAD FOR COAL IN JAMBI, SAYS JAKARTA POST
Jambi Governor Hasan Basri Agus said on Sunday that mining company PT Sinar Anugerah Sukses (SAS) would develop a 108-kilometer road with a width o ...
Wednesday, 15 July 15
ANY FUTURE IRAN OIL DEAL WILL BOOST SUPPLY FUNDAMENTALS WITH TANKER OWNERS HOPING FROM TEHRAN TO QUICKLY BOOST ITS PRODUCTION
With the Greek “Euro-drama” apparently over, at least for now, Iran’s oil deal still remains elusive, with any potential agreemen ...
Tuesday, 14 July 15
FOB NEWCASTLE COAL SWAPS MAINTAIN OVERALL NEGATIVE TONE THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery down $ 1.02 per MT (-2.23%) month over month to US$ 44.68 per mt. The swap ...
Tuesday, 14 July 15
CFR SOUTH CHINA COAL SWAPS DECLINE THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 1.47 (2.82%) per MT month over month.
A commodity swap ...
Monday, 13 July 15
THERMAL COAL IMPORTS SOAR 23 PER CENT TO 24.08 MILLION TONNES AT 12 MAJOR INDIAN PORTS
Import of thermal coal jumped 23 per cent to 24.08 million tonnes at 12 major ports in the first quarter of the fiscal, even as the government cont ...
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- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- The University of Queensland
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
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