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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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Thursday, 15 May 14
USA COAL CONFERENCE
Press Release: IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Coal USA Conference, June 18-20, 2014, ...
Wednesday, 14 May 14
COAL PRICES IN CHINA HAVE DROPPED TO THEIR LOWEST LEVELS SINCE END-2008
COALspot.com: Coal prices in China have dropped to their lowest levels since end-2008, Fitch says in its latest rating report on one of the coal ...
Wednesday, 14 May 14
ALMOST THROUGH THE HALF OF THE YEAR, THE DRY BULK INDEX SHOW SIGNS OF WEAKNESS; CREATING TO BOTH EXISTING SHIP OWNERS AND POTENTIAL INVESTORS A LOT OF INSECURITY - PANOS MAKRINOS
Almost through the half of the year, the overall shipping market and more specifically the Dry Bulk Index show signs of weakness, creating to bo ...
Tuesday, 13 May 14
NPC COAL EXPORT VOLUMES PLUNGE TO 2.48 MMT WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 12 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Quee ...
Tuesday, 13 May 14
YET ANOTHER POSIDONIA EXHIBITION IS ON ITS WAY - INTERMODAL
With less than a month to go before another Posidonia exhibition starts and all the parties and celebrations get under way we thought that it wo ...
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- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- The University of Queensland
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
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