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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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Monday, 06 January 14
INDONESIAN COAL SWAPS SLIDE TO $ 61.25 FOR Q4' 14 DELIVERY
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 0.32 pmt month on month on Friday 3 January 2014. Th ...
Sunday, 05 January 14
API 8 CFR SOUTH CHINA COAL SWAP FOR Q3 DELIVERY CLOSED $ 80.05, A $ 0.90 LOWER THAN Q1 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 1.40 percept day on day closed at US$ 80.95 per mt as o ...
Sunday, 05 January 14
CENTRAL BUREAU OF INVESTIGATION OF INDIA REGISTERS CASES IN CONNECTION WITH ALLEGED SUPPLY OF LOW QUALITY INDONESIAN COAL BY A PRIVATE COMPANY TO NTPC & NSPCL
COALspot.com: The Central Bureau of Investigation of India has registered two cases regarding alleged supply of low quality imported Indonesian coal ...
Saturday, 04 January 14
THE INDONESIAN GOVERNMENT TO DOWNSIZE ITS COAL PRODUCTION TARGET TO 400 MMT THIS YEAR
COALspot.com: Indonesia to downsize its coal production target to 400 million tons in 2014, lower than the production in 2013, which stood at 421 mi ...
Friday, 03 January 14
IN 2013 RBCT HAS, FOR THE FIRST TIME, EXPORTED MORE THAN 70 MILLION TONS OF COAL
COALspot.com: South Africa's Richards Bay coal terminal, the world’s largest single coal exporting terminal shipped 6.788 million tonnes of c ...
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- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- White Energy Company Limited
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- PTC India Limited - India
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
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