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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, 11 July 14
UNITED STATE'S MONTHLY COAL OUTPUT FALLS 5.53% IN JUNE
COALspot.com – United States the world's second largest coal producer, produced approximately 18.1 million short tons (mmst) of coal in a ...
Thursday, 10 July 14
SGX EXPANDS ACROSS THE BULKS WITH NEW COAL PRODUCTS
COALspot.com: Singapore Exchange (SGX) is expanding its bulk commodity derivatives offering by launching new coking and thermal coal products on 4 ...
Thursday, 10 July 14
HANDY: SMALL INCREASE; PANAMAX: POSITIVE TONE; CAPESIZE: PAPER VALUES REMAIN WEEK
Handy
It is a general increase in activity in both hemispheres whereas rates have just experienced a small increase. In the Feast we see stable a ...
Wednesday, 09 July 14
SHIP INVESTMENTS ARE TRENDING LOWER
Most ship owners are deeming current ship prices on the high side, refraining from making serious commitments in new acquisitions or newbuilding or ...
Wednesday, 09 July 14
INDIAN GOVERNMENT ADVISED POWER UTILITIES TO INCREASE COAL IMPORTS
COALspot.com: The government of India has advised power utilities to increase coal imports to meet fuel shortages and those that have fuel supply p ...
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- White Energy Company Limited
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
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