We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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.
|
|
Share your
coal and shipping news
|
|
“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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 31 July 14
RIO TINTO SELLS MOZAMBIQUE COAL ASSETS FOR US$ 50 MILLION TO INDIA'S ICVL
COALspot.com: Rio Tinto has agreed to sell its Mozambique coal assets for just US$ 50 million to International coal ventures Private limited of Ind ...
Wednesday, 30 July 14
CAPES SEEMED TO BE STRANDED AT THE SAME LEVELS; PANAMAXES MANAGED TO SLIGHTLY REVIVE - INTERMODAL
COALspot.com: The Dry Bulk market took a breath this past week, as both Panamaxes and Supras started to see a small influx of activity, which was j ...
Tuesday, 29 July 14
TOTAL SELLS ITS SOUTH AFRICAN COAL MINING ASSETS TO EXXARO
Total has signed an agreement with Exxaro Resources Ltd for the sale of its 100% stake in Total Coal South Africa (TCSA), its coal-producing affili ...
Tuesday, 29 July 14
GENCO: DRY BULK SHIPPING VALUATIONS NO LONGER ANCHORED TO DISCOUNTED CASH FLOW METHOD - WEIL
KNOWLEDGE TO ELEVATE
Discounted cash flow analysis is a mainstay among the valuation methodologies used by restructuring professionals and bank ...
Tuesday, 29 July 14
SHIP OWNERS' DEMAND OF NEW VESSELS DENTED AS A RESULT OF LOWER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The sharp downward direction of dry bulk freight rates has had a negative impact on investors’ secondhand buying appetite that wait to see th ...
|
|
|
Showing 3571 to 3575 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Planning Commission, India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- VISA Power Limited - India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- The University of Queensland
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Australian Coal Association
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
|
| |
| |
|
