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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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Wednesday, 23 April 14
KOMIPO INVITES BIDS FOR LOW VOLATILE BITUMINOUS COAL
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 90,000 Metric Tons (MT) of low volatile bit ...
Tuesday, 22 April 14
INDONESIAN MARCH COAL EXPORT VOLUME SURGE 9.12% TO 35.54 MMT
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.9 ...
Tuesday, 22 April 14
NEWCASTLE WEEKLY COAL EXPORTS FELL 13.33% THIS PAST WEEK
COALspot.com: In the week ended 07:00 hours 21 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Monday, 21 April 14
Q1'15 SUB-BIT FOB INDONESIA COAL SWAP SHOWING A POSITIVE TREND
COALspot.com: Indonesian coal swaps for average Q2’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
Monday, 21 April 14
Q4 2014 AND Q1 2015 COAL SWAPS CLOSED MARGINALLY HIGHER COMPARED TO Q2 PRICES
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 0.87 percent month on month and closed at US$ 76.15 per mt as ...
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- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
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- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
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- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
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- London Commodity Brokers - England
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- Port Waratah Coal Services - Australia
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- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- The University of Queensland
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- Petrochimia International Co. Ltd.- Taiwan
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- Siam City Cement - Thailand
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- Ministry of Mines - Canada
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- Xindia Steels Limited - India
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
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- Electricity Authority, New Zealand
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- Goldman Sachs - Singapore
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- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
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- Coal and Oil Company - UAE
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- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
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- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
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- Electricity Generating Authority of Thailand
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- MS Steel International - UAE
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- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
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- Makarim & Taira - Indonesia
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- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
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- Parliament of New Zealand
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- ASAPP Information Group - India
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- IHS Mccloskey Coal Group - USA
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- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
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- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
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- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
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- Planning Commission, India
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- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
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- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
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- Binh Thuan Hamico - Vietnam
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- Ministry of Finance - Indonesia
- Australian Coal Association
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