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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Wednesday, 08 October 14
OIL COULD FALL TO USD80 BEFORE SHALE SUPPLY RESPONSE - FITCH
COALspot.com: Brent oil could fall as low as USD80 a barrel before triggering a self-correcting supply response with shale-oil drillers cutting inv ...
Wednesday, 08 October 14
IS THERE ANY BRIGHT SIDE ON THE DRY BULK SEGMENT? - YANNIS OLZIERSKY
In the movie “Life Of Brian”, a character on a nearby cross was singing the famous “Always look on the bright side of life” ...
Tuesday, 07 October 14
TAIPOWER TO IMPORT 525K MT OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com: Taiwan Power Company intends to procure 525,000 metric tons of low ash and extra low sulfur sub-bituminous coal for Taipower thermal ...
Tuesday, 07 October 14
SUB-BIT FOB INDONESIA COAL SWAP SHOWS A FLAT TO WEAK TREND THIS PAST WEEK
COALspot.com: Indonesian coal swaps November 2014 delivery flat week on week and gained US$ 0.10 (-0.20%) per mt day on day. The swap also lost US$ ...
Tuesday, 07 October 14
THE RIO TINTO CONFIRMS THAT NO DISCUSSIONS ARE TAKING PLACE WITH GLENCORE
COALspot.com: The board of Rio Tinto notes the recent press speculation regarding a possible combination of Rio Tinto and Glencore.The Rio Tinto bo ...
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- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- White Energy Company Limited
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- VISA Power Limited - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
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