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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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Tuesday, 09 September 14
WEAK M&A DESPITE ABUNDANT DISTRESSED INDONESIA COAL ASSETS - FITCH RATINGS
COALspot.com: Fitch Ratings says that a meaningful level of merger and acquisition (M&A) activity leading to a consolidation of the coal sector ...
Tuesday, 09 September 14
PORT OF NEWCASTLE SHIPPED 13.207 MTN OF COAL IN AUGUST; TRADE VALUE AROUND $1.17 BILLION
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.17 billio ...
Monday, 08 September 14
SUB-BIT FOB INDONESIA COAL SWAP UNDERPERFORMED LAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.20 (-0.39%) day on day and US$ 1.60 (-3.04%) per mt week on week. The ...
Monday, 08 September 14
API 8 CFR SOUTH CHINA COAL SWAP FOR DELIVERY JAN'15 CLOSED AT US$ 66.30 PMT W/E 5 SEPTEMBER 2014; LOST 5.15% M-O-M
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.15 (-0.23%) day on day and US$ 2.05 (-3.04%) week on wee ...
Monday, 08 September 14
CHINESE IRON ORE IMPORT DEMAND VERY STRONG - COMMODORE
COALspot.com: 30 dry bulk vessels were chartered in the spot iron ore market last week to haul iron ore import cargoes to Chinese buyers.
Acco ...
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- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Economic Council, Georgia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- The University of Queensland
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Parliament of New Zealand
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
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