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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Wednesday, 10 October 12
TAPPING OPPORTUNITIES WITHIN GLOBAL ECONOMIC PERSPECTIVE
Press Release: Mining sector will continue to play a significant role in supporting industrial and economic development in Indonesia which is curren ...
Tuesday, 09 October 12
REALM RESOURCES RECOMMENCES DRILLING AT KATINGAN RIA COAL PROJECT
COALspot.com : Realm Resources Ltd. (ASX) has announced that it has commenced work on the phase three technical programme at its Katingan Project in ...
Sunday, 07 October 12
INDONESIAN GOVERNMENT DECLARED HBA FELL AGAIN IN OCTOBER
COALspot.com - The Indonesian government’s declared coal reference price has lost US$ 0.17 per MT M-M.
The monthly coal referen ...
Saturday, 06 October 12
CFR SOUTH CHINA COAL SWAPS FOR DECEMBER'13 DELIVERY GAINED 1.3 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery gained 0.098 percent and 0.164 percent W-W and D-D respectively o ...
Saturday, 06 October 12
FREIGHT MARKET IS LIKELY TO PICK AFTER THE HOLIDAYS IN CHINA - VISTAAR
COALspot.com - The freight market appeared to be seeing some increase BDI up by 14.23 pct closing at 875 points. The Cape and Panamax index also saw ...
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- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- The University of Queensland
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
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