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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, 28 January 13
BAYAN RESOURCES TO SELL 18 MILLION TONS OF COAL TO GNPOWER MARIVELES COAL PLANT
Publicly-listed PT Bayan Resources announced on Friday that it had signed an agreement on coal sales with Philippine-based GNPower Mariveles Coal Pl ...
Sunday, 27 January 13
CFR SOUTH CHINA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.31 percent and CFR South China coal shipment&nbs ...
Sunday, 27 January 13
FREIGHT MARKET: FLAT TO SOFT - VISTAAR
COALspot.com - The freight market was soft and all the indices were down except for handy size.
The BDI was down 4.66 pct closing at 798 points.. ...
Friday, 25 January 13
BOTSWANA GOVERNMENT GRANTS COAL LICENSES TO A-CAP RESOURCES LIMITED
A-Cap Resources Limited has announced that it has been granted coal rights within its Bolau tenements which sit next to the Sese Coal and Power Proj ...
Friday, 25 January 13
SMALL ROOM FOR OPTIMISM FOR THE PROSPECTS OF THE DRY BULK MARKET AS NET FLEET GROWTH IS SLOWING DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market didn't manage to post a rebound during the past year, quite the opposite, as a fast fleet growth and slow ...
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- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Australian Coal Association
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- ASAPP Information Group - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
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