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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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Friday, 24 May 13
US'S COAL PRODUCTION INCREASED WEEK ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.90 million short tons (mmst) of ...
Friday, 24 May 13
OPG POWER VENTURES OF INDIA LOOKING FOR 210,000 MT OF 4,200 GAR INDONESIAN THERMAL COAL
COALspot.com - OPG Power Ventures Plc (OPG) is an AIM listed (London Stock Exchange) and fast growing developer and operator of power plants in Indi ...
Thursday, 23 May 13
HANDY : THE ATLANTIC MARKET REMAINS UNCHANGED - FEARNRESEARCH
Handy
The Atlantic market remains unchanged. USG-Feast rates were around USD 19k. Little change from last week in the Pacific, fewer stems and tonn ...
Thursday, 23 May 13
COLOMBIA SHIPPED 11.74 MILLION TONS OF THERMAL COAL IN Q1
COALspot.om - Colombia produced about 18,388,972.94 mt of coal for the first quarter of 2013.
Q1' 2013 coal production was around 21.42 p ...
Wednesday, 22 May 13
COKAL SIGNS JV WITH MDM, FOR BARITO RIVER BARGING
COALspot.com - Cokal Limited (ASX: CKA) has announced that it has entered into a 50:50 Joint Venture (JV) with Meratus Advance Maritime (MDM) one of ...
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- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
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