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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Friday, 05 September 14
U.S. PRODUCED 19.2 MMST OF COAL LAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
Thursday, 04 September 14
PUNJAB STATE POWER CORPORATION LIMITED OF INDIA HAS DECIDED TO BUY IMPORTED COAL - HINDUSTAN TIMES
COALspot.com: The Punjab State Power Corporation Limited (PSPCL) has decided to buy imported coal to run its thermal plants, as reported by Hindust ...
Thursday, 04 September 14
INDONESIAN COAL MINERS MAY GET MORE TIME ON ROYALTIES - FITCH RATINGS
COALspot.com: Fitch Ratings says that coal miners in Indonesia are likely to get more time to repay the government the royalties that were set off ...
Thursday, 04 September 14
INDONESIAN COAL SWAPS SLIDE THIS PAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.90 (-1.68%) day on day and US$ 1.80 (-3.31%) per mt week on week. The ...
Thursday, 04 September 14
CAPESIZE : SENTIMENT REMAINS POSITIVE FOR Q3/Q4 - FEARNRESEARCH
Handy
The Atlantic market has experienced more activity this week. Rates for TA´s are up about 8% w-o-w, much lead by an increasing number ...
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- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
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