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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Thursday, 05 March 15
INDIA WILL BE THE LARGEST DRIVER OF GLOBAL SEABORNE COKING COAL DEMAND GROWTH IN 2015 - WOOD MACKENZIE
Global demand growth will remain weak because of China’s negative demand growth.
COALspot.com: At Coaltrans India, Wood Mackenzie says I ...
Thursday, 05 March 15
BUKIT ASAM BOOKED US$ 1 BILLION REVENUE IN 2014
COALspot.com: Indonesian publicly listed and state owned coal miner PT. Bukit Asam, has announced that, the revenue of the company for the period J ...
Wednesday, 04 March 15
AN AGENDA FOR CHANGE - FITCH INDONESIA CONFERENCE
Fitch Indonesia Conference - 5 March 2015
Fitch Ratings will host its annual Indonesia conference on 5 March 2015.
The theme of this year ...
Wednesday, 04 March 15
KEEP CALM AND INVEST IN DRY - THEODORE NTALAKOS
Keep Calm and Carry On was originally a motivational poster, intended to raise the morale of the British public, produced by the British government ...
Tuesday, 03 March 15
INDONESIAN COAL EXPORT VOLUME TO DECLINE 50% BY 2019
COALspot.com: The Indonesian government is planning to reduce coal export volume by 50% within the next five years while keeping its coal productio ...
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- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Australian Coal Association
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- VISA Power Limited - India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Minerals Council of Australia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Parliament of New Zealand
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Bhatia International Limited - India
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
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