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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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Monday, 12 May 14
TAIPOWER TO IMPORT AROUND 1 MMT OF SUB-BITUMINOUS COAL DURING AUGUST 2014 THROUGH NOVEMBER 2014
COALspot.com - Taiwan Power Company intends to procure 1.050 million tons of sub-bituminous coal for Taipower thermal power plant through open t ...
Monday, 12 May 14
DRY BULK MARKET IS STILL STRUGGLING TO FIND FIRM FOOTING
COALspot.com: The freight market continued to be weak and the BDI closed slightly lower at 997 points or fell 1.96 pct week on week. The cape in ...
Friday, 09 May 14
RBCT SHIPPED 5.4 MMT OF COAL IN APRIL
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest coal export terminal in the world, shipped 5.45 million to ...
Friday, 09 May 14
DRY BULK MARKET: BANKRUPTCY TONNAGE UNLEASHED
Drewry’s latest Dry Bulk Forecaster saw freight rates on most routes declined in 2014’s first quarter as the previous quarter’ ...
Friday, 09 May 14
UNITED STATES COAL PRODUCTION SLIGHTLY SLIDES TO 82.4 MMST IN APRIL
COALspot.com – United States the world's second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal i ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- MS Steel International - UAE
- PowerSource Philippines DevCo
- The University of Queensland
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
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