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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 05 May 14
HUANENG CLEAN ENERGY RESEARCH INSTITUTE HAS CONFIRMED TO SPEAK AT CCF2014
Press Release: Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12,13, 2014 in Beijing, China. We are glad to invite ...
Monday, 05 May 14
SUB BIT-FOB INDONESIA COAL SWAPS LOST GROUND LAST WEEK
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports ...
Monday, 05 May 14
API 8 CFR SOUTH CHINA COAL SWAP FOR AVERAGE Q3 14 DELIVERIES: LOST 0.82% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 0.82 percent month on month and closed at US$ 75.20 per mt as o ...
Sunday, 04 May 14
INDONESIA TO INDIA FREIGHT RATES ARE SHOWING POSITIVE TREND
COALspot.com: The freight market is seems to be some recovery as cape index has increased by 7.84 pct week on week. Cape index closed at 1829 po ...
Friday, 02 May 14
ADARO ENERGY STARTS YEAR 2014 WELL DESPITE CURRENT MARKET CONDITIONS
COALspot.com: Adaro Energy, the second largest Indonesian coal miner's revenue increased 14% to US$ 845 million due to higher sales volume, ...
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- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
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