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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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Saturday, 11 August 12
INDONESIAN COAL REFERENCE PRICE HAS LOST 27.78 PERCENT YOY
COALspot.com - Indonesian HBA fell again in August.
The monthly coal reference price for coal sales this month fell 3.32 percent. HBA fell ...
Saturday, 11 August 12
SUB-BIT INDONESIA COAL SWAPS SEEN MOVING IN THE RIGHT DIRECTION
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.29 percent W-o-W on Friday (10 August 2012) closing but lost 1 ...
Friday, 10 August 12
DRY BULK MARKET DROWNING FROM TONNAGE OVERSUPPLY - HELLENIC SHIPPING
The dry bulk market has been overflowing with new building vessels, despite the fact that demand is more or less (and minus the seasonal factors) ri ...
Thursday, 09 August 12
3RD ANNUAL SHALE GAS
Press Release - With the North American shale gas boom, IBC’s 3rd Annual Shale Gas explores optimal strategies to monetize Asia’s domest ...
Wednesday, 08 August 12
EXPLOITASI AIMS TO RAISE RP 2.7T FOR ACQUISITION - THE JAKARTA POST
The Jakarta Post reported that, publicly listed coal miner PT Exploitasi Energi Indonesia (CNKO) is seeking to raise Rp 2.7 trillion (US$286.2 milli ...
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- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- The University of Queensland
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
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