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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Friday, 04 July 14
US: WEEKLY COAL PRODUCTION SLIGHTLY UP W-O-W
COALspot.com – United States the world's second largest coal producer, produced approximately 19.4 million short tons (mmst) of coa ...
Friday, 04 July 14
PARAM MITRA COAL RESOURCES SECURES US$ 7.5M INVESTMENT FROM TEMBUSU PARTNERS
Param Mitra Coal Resources Pte Ltd (“PMCR”), which owns two operating coal mines in Indonesia, has secured from Singapore private equit ...
Thursday, 03 July 14
BUMI TRANSFERS 19% OF KPC STAKE VALUED AT US$ 950 MILLION TO CIC
COALspot.com: PT. Bumi Resources announces that 19% of its holdings in Kaltim Prima Coal (KPC), valued at US$ 950 million, has been transferred to ...
Thursday, 03 July 14
PANAMAX : IN THE ATLANTIC, OWNERS ARE WILLING TO FIX AT ABOUT $2.5K PER DAY - FEARNEYS
Handy
In its latest weekly report, shipbroker Fearneys noted that, this week seems to have been more of a wait and see game between owners and ch ...
Wednesday, 02 July 14
NEWMONT FILES FOR INTERNATIONAL ARBITRATION ON ORE EXPORT BAN - THE JAKARTA POST
PT Newmont Nusa Tenggara (NNT), a subsidiary of United States-based Newmont Corporation, has filed for international arbitration against the govern ...
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- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Australian Coal Association
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- White Energy Company Limited
- VISA Power Limited - India
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Ministry of Finance - Indonesia
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