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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, 08 May 14
'TRIAL BY MEDIA, TRIAL BY LAW' - A REPORT FROM TRACK 1 OF BIMCO'S ANNUAL CONFERENCE DUBAI 2014
KNOWLEDGE TO ELEVATE
Aiming to bring a very different type of event into their annual conference, BIMCO presented ‘Double Jeopardy &n ...
Thursday, 08 May 14
INDONESIAN COAL PRICE REFERENCE IN MAY CRASHES THROUGH $74
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 1.21 / MT to ...
Wednesday, 07 May 14
THE DRY BULK MARKET HAS NOTED ANOTHER WEEKLY POSITIVE GAIN
Chartering (Wet: Softer- / Dry: Stable+)
The Dry Bulk market has noted another weekly positive gain, driven by the Capesize segment, but we ne ...
Wednesday, 07 May 14
SGX ENHANCES ITS COMMODITIES PRODUCT OFFERING
COALspot.com: SGX is building up its bulk commodity product offerings with 9 more derivative contracts over the next 2 months, subject to regula ...
Tuesday, 06 May 14
NEWCASTLE COAL EXPORT SLIPS 7.92% WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 5 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland ...
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- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
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