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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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Thursday, 23 January 14
30 DAYS LEFT TO REGISTER FOR PACIFIC BASIN COAL CONFERENCE
COALspot.com: (Press Release) : IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Pacific Basin Coal Confer ...
Wednesday, 22 January 14
HANDY/SMAX: TALK OF RATES INDICATES A STEADY TO FIRMING TREND - INTERMODAL
Last week closed off on the red once more for the Dry Bulk market, which continues to see freight rates trying to get steady feet. Nonetheless, with ...
Wednesday, 22 January 14
EXPORT BAN ON UNPROCESSED MINERALS EFFECTIVE 12 JANUARY 2014 - THREE - YEAR REPRIEVE FOR SOME, BUT UNCERTAINTY REMAINS: PWC
COALspot.com: On 11 January 2014, only hours before a long-debated ban on the export of unprocessed minerals was to come into effect, the Government ...
Wednesday, 22 January 14
DRY SECTOR: SENTIMENT REMAINS STRONG - INTERMODAL
As we have now entered 2014 and the Chinese are soon entering their Year of the Horse (sit tight for the ride!), it is a great opportunity to see ho ...
Wednesday, 22 January 14
SGX SUCCESSFULLY LAUNCHED FREIGHT FUTURES
COALspot.com: Singapore exchanged announced that, SGX Freight Futures were successfully launched on 20 January 2014, and the first trade ...
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- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Economic Council, Georgia
- SMC Global Power, Philippines
- The University of Queensland
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
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