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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, 03 December 14
PROGRESSING SMELTER PROJECTS IN INDONESIA
Press Release: Indonesia’s ban on ‘raw mineral export’ that was designed to encouraging downstream investment in mineral processi ...
Wednesday, 03 December 14
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The dry bulk market seems unable to turn sentiment round and is still looking for direction. The BCI's 887-point free fall last week had an obv ...
Wednesday, 03 December 14
CAPESIZE DRY BULK CARRIERS ENTER 2015 WITH MIXED FORTUNES, WITH A POSITIVE AND A NEGATIVE SCENARIO BOTH EMERGING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The future of the Capesize dry bulk market appears to be engulfed from mixed “feelings” among analysts and market participants, despite ...
Tuesday, 02 December 14
KEY PLAYERS SHED NEW PERSPECTIVES ON COAL MARKETS
Press Release: Singapore’s ONLY and longest established Coal Trade event. Whilst Coal prices remain challenging, there is widespread consensu ...
Tuesday, 02 December 14
KOMIPO INVITES BIDS FOR 585,000 METRIC TONS OF COAL FOR Q1'15
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids for the supply of 585,000 Metric Tons of coal. According to invitation, 5700 ...
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- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- The University of Queensland
- Indian Energy Exchange, India
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
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