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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Friday, 25 April 14
US PRODUCED APPROXIMATELY 19 MILLION SHORT TONS OF COAL IN A WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
Friday, 25 April 14
2ND MYANMAR ELECTRIC POWER CONVENTION 2014 IS THE GATEWAY TO MYANMAR POWER INDUSTRY!
Press Release: 2nd Myanmar Electric Power Convention (MEPC) 2014 is scheduled on 21-23 October, 2014 at Traders Hotel in Yangon, Myanmar. MEPC o ...
Friday, 25 April 14
DRY BULK MARKET LOOKING FOR NEW TRACTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market seems to have gained its footing after the past few dissapointing weeks, during which the Baltic Dry Index (BDI) shedded mos ...
Thursday, 24 April 14
HANDY : A FLOW OF FRESH REQUIREMENTS LIFTING THE PACIFIC SLOWLY TO US$ 10-11 K BSS SINGAPORE FOR COAL ROUNDS
Handy
There is still no place to hide in the Atlantic for the smaller but flexible sizes. Slow and weak seems to be the headlines, although th ...
Wednesday, 23 April 14
EUROPE WOULD BE HARD PRESSED TO REPLACE RUSSIAN GAS, FITCH RATINGS SAYS
A ban on Russian gas imports to the EU would cause substantial disruption to Europe's economy and industry, Fitch Ratings says. In the immed ...
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- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
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