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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, 30 December 13
INDONESIAN COAL TO BE PART OF INDEX DETERMINING POWER TARIFFS - BUSINESS STANDARD
In a significant move, power sector regulator CERC has decided to provide 50 per cent weightage for Indonesian coal in the benchmark index that is u ...
Friday, 27 December 13
THE EXPORT OF UNPROCESSED MINERALS WOULD NOT BE ALLOWED AFTER 12 JAN 2014 - INDONESIAN ENERGY MINISTER
COALspot.com: The government of Indonesia will implement Law No. 4 of 2009 on Mineral and Coal in full and consistently by January 12, 2014, said, m ...
Friday, 27 December 13
INDONESIA SHIPPED 15.75 PERCENT MORE COAL IN NOVEMBER
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $2* billion worth of co ...
Thursday, 26 December 13
COAL & OIL GROUP SECURES US$ 250 MILLION FUNDING FOR ITS 1200MW THERMAL POWER PLANT IN INDIA
COALspot.com: Dubai-based Coal & Oil (C&O) Group has announced that it has secured additional funding of approximately Dhs. 1 billion (appro ...
Wednesday, 25 December 13
DRY BULK INDEX LOST SOME GROUND THIS PAST WEEK - INTERMODAL
Chartering (Wet: Firm+ / Dry: Softer - )
The Dry Bulk Index lost some ground this past week, on the back of activity slowing down befor ...
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- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
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