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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, 07 March 14
INDONESIA TO PRODUCE 421 MMT OF COAL IN 2014
Coalspot.com: Indonesia finally agreed to increased 2014 coal output by as much as 6 percent to 421 million metric tons from its previous plan, a se ...
Friday, 07 March 14
US PRODUCED 19.4 MMST OF COAL IN PAST 7 DAYS, SAYS EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.4 million short tons (mmst) of coal in ...
Thursday, 06 March 14
PANAMAX MARKET IS STRUGGLING IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
The Handy/Supra market experienced a rate increase in the Pacific. The activity itself is not too big, but spot tonnage is clearing up and ow ...
Wednesday, 05 March 14
THE BIG BULKERS HAVE IN FACT WITNESSED SIGNIFICANT IMPROVEMENTS IN BOTH BASINS
The BDI continues to gain back some of the lost ground, although in reality there isn't a lot to celebrate abou ...
Wednesday, 05 March 14
LEAVE IT TO CAPES TO CHANGE THE DIRECTION OF THE DRY BULK MARKET - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
Leave it to Capes to change the direction of the Dry Bulk market. The big bulkers managed to drag the BDI ...
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Showing 3816 to 3820 news of total 6871 |
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- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Planning Commission, India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
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