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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Wednesday, 04 June 14
SKULD: DIVERSIFICATION AND A ROBUST BOTTOM LINE
In February, I was delighted to ring in the new policy year with the Skuld team following a solid renewal round and a strong year. 2013 was, in man ...
Monday, 02 June 14
SUB-BIT FOB INDONESIA COAL SWAPS LOST GROUND THIS WEEK
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 02 June 14
SOUTH CHINA COAL SWAP WAS SHOWING A POSITIVE MOVE IN Q4, INSTEAD OF THIS WEEK'S WEAK TREND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 3.39 percent month on month and closed at US$ 72.65 per mt as on F ...
Sunday, 01 June 14
INDO - INDIA SUPRMAX FREIGHT RATES CONTINUED TO DOWN THIS WEEK
COALspot.com: The freight market was soft this past week as all sectors soften particularly Panamax index was lost 129 points or 12.88% week on wee ...
Friday, 30 May 14
CLEAN COAL PROCESSING & CONVERSION ASIA SUMMIT 2014
Clean Coal Processing & Conversion Asia Summit 2014 will be held on Nov 20-21st, 2014 in Jakarta, Indonesia.
With the cooperation of ...
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- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Ministry of Mines - Canada
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Siam City Cement - Thailand
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
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