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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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Wednesday, 03 July 13
NEWCASTLE COAL EXPORTS DIP 24.79 PER CENT WOW
COALspot.com - Newcastle Coal exports fell 24.79% to 2.33 million tons WoW.
Newcastle port in Australia has loaded 2,332,513 tons of coal for the ...
Monday, 01 July 13
12TH CLEAN COAL FORUM INDONESIA 2013
Press Release: Produced by CDMC Events, The 12th Clean Coal Forum Indonesia 2013 will be held on Dec 5-6,2013 in Jakarta, Indonesia. It will generat ...
Monday, 01 July 13
INDIA AND CHINA STILL DOMINATING THE INDONESIAN THERMAL COAL EXPORT MARKET
COALspot.com: Indonesia, the world's largest multi types coal exporter shipped 35.83* million tons of coal in May 2013, 1.40 per cent l ...
Sunday, 30 June 13
YEAR 2014 INDO SUB-BIT COAL SWAPS EXPECTED TO STAY BELOW 2013 LEVEL
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average August 2013 delivery have gained 0.08 percent on a day lost on week ...
Sunday, 30 June 13
CAPESIZE RATES SEEN INCREASING ON HIGH DEMAND - VISTAAR
COALspot.com - The BDI continued to rise and saw a big gain on Friday. BDI increased 14 per cent week ended 28 June 2013, closed at 1171 points driv ...
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- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
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