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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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Sunday, 05 April 15
FREIGHT RATES UNDER PRESSURE WEEK OVER WEEK
COALspot.com: The Indices fell on all segments and the market seemed to soften this week.
The BDI was almost lost 1.34% week over week and clo ...
Saturday, 04 April 15
BORYEONG POWER OF KOMIPO TO BUY TOTALED 695K MT OF HIGH AND LCV COAL
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids from coal producers, marketing companies, or traders to supply of 500000 Metr ...
Friday, 03 April 15
U.S WEEKLY COAL PRODUCTION STAYS FLAT
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 18.3 million short ...
Friday, 03 April 15
TOBA BARA'S PANDU SJAHRIR ELECTED AS NEW CHAIRMAN OF THE INDONESIAN COAL MINING ASSOCIATION
COALspot.com: Pandu Sjahrir, the Vice President Director & CFO of the Jakarta-listed PT Toba Bara Sejahtra — a subsidiary of PT Toba Seja ...
Thursday, 02 April 15
GOVERNMENT MUST WORK WITH MINING, NOT AGAINST IT - PANDU SJAHRIR
The Coal Face: The coal price has hit its lowest point in recent memory
My father used to say to me that his children are his biggest inv ...
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- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- White Energy Company Limited
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
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