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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, 10 April 15
US COAL PRODUCTION FELL 4.7% W-O-W : EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.4 million short ...
Friday, 10 April 15
DRY BULK MARKET'S DOWNFALL ALSO OFFER INVESTMENT BARGAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Dry bulk market rates have fallen to historical lows over the past few weeks, with no clear path of recovery, at least in the near term. As such, m ...
Thursday, 09 April 15
CAPESIZE: RATES ARE STILL DISAPPOINTING - FEARNLEYS
Handy
The handy market had a stronger sentiment before the Easter holidays, but have as the bigger panamaxes seen a softening tendency this week. ...
Wednesday, 08 April 15
DRY BULK MARKET SEEMS UNABLE TO CATCH A BREAK - INTERMODAL
COALspot.com: The Dry Bulk market seems unable to catch a break these days.
According to Intermodal, following the market stabilization that p ...
Wednesday, 08 April 15
CHINA BURNS HALF OF THE WORLD'S COAL - CHRISTOPHER T. WHITTY
Intermodal Weekly Market Update
China is the world's largest consumer of coal, using more coal each year than the United States, the Europ ...
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- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
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