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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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Sunday, 09 June 13
IRON ORE DEMAND: WEAK; COAL MOVEMENT: STEADY TO INDIA AND CHINA - CAPT. REDDY
COALspot.com - The freight market was fairly steady with BDI up by 0.37 per cent closed at 812 points this week.
The Cape index was also ended in ...
Friday, 07 June 13
MEDITERRANEAN COAL MARKETS
Press Release: 3rd International Conference Mediterranean Coal Markets will be held on 16-17th of September 2013, Istanbul, Turkey, Ceylan Intercont ...
Friday, 07 June 13
US'S COAL PRODUCTION INCREASED BY 0.54 PER CENT THE WEEK ENDED JUNE 1
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.60 million short tons (mmst) of ...
Thursday, 06 June 13
WE ARE SEEING SOME FRESH INDO COAL TO CHINA AND INDIA - FEARNRESEARCH
Handy
In the Atlantic, the Gulf remains firm for the next week with a few orders in the market. The Supramaxes are seeing around low 20k for fronth ...
Wednesday, 05 June 13
DON'T AVOID PAYING COAL ROYALTY TO THE GOVERNMENT - INDONESIAN ENERGY MINISTER
COALspot.com – “Every country has the right to make policies to protect their national interests”, Energy and Mineral Resources Mi ...
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- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
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- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
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- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
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- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
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- Mercuria Energy - Indonesia
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- The University of Queensland
- White Energy Company Limited
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
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- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Petron Corporation, Philippines
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