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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, 21 March 14
MERCURIA ANNOUNCES ACQUISITION OF J.P. MORGAN PHYSICAL COMMODITIES BUSINESS
COALspot.com: Mercuria Energy Group announced that it has reached a definitive agreement with J.P. Morgan Chase & Co. to acquire its physica ...
Thursday, 20 March 14
CAPESIZE: WEST AUSTRALIA TO CHINA RATES HAVE CLIMBED BACK TOWARD USD 11 PMT - FEARNRESEARCH
Handy
From a slight improvement in the Atlantic to a more mixed picture this mid week. North Atlantic rounds showing softening signs whereas S ...
Wednesday, 19 March 14
INSTEAD OF DECIDING WHETHER THE GLASS IS HALF FULL OR HALF EMPTY, I AM CURRENTLY GLAD THERE IS WATER IN THE GLASS - EVA TZIMA
By Eva Tzima
Research Analyst
Intermodal Research & Valuations
Right when you think that you have all your facts straight, right wh ...
Wednesday, 19 March 14
EUROCOKE SUMMIT 2014
Press Release: ThyssenKrupp, Steel Institute VDEh, SSI and more headline Smithers Apex’s Eurocoke Summit
The leading coke, coal and s ...
Wednesday, 19 March 14
DRY BULK MARKET REBOUND LEADS TO MORE NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The steady rise of the dry bulk market, as evidenced by the return, yesterday, of the Baltic Dry Index above the 1,500-point mark (1,518), is fu ...
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- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
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