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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, 03 August 12
INDIA - LIGHTS OUT! - SALVA
The Indian power sector hit global headlines this week for all the wrong reasons. Firstly, on Monday, over 350 million people lost power across nort ...
Thursday, 02 August 12
OIL & GAS COMPANIES TO MEET IN MYANMAR FOR UPDATES ON NEW ROUND OF BIDDING AND INVESTMENT POTENTIAL IN UPSTREAM OIL, GAS, AND POWER GENERATION
Press Release - 2nd MOGP Summit (Myanmar Oil, Gas & Power) will convene in Yangon from 3 – 6 September 2012, to unveil new round of biddin ...
Thursday, 02 August 12
DRY BULK MARKET RATES CONTINUE SLUMP AMID SLOWER DEMAND NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on its downward path Wednesday, as the BDI (Baltic Dry Index) kept retreating to new lows. The index was down by 2.12 perce ...
Monday, 30 July 12
DRY BULK MARKET TO REMAIN UNDER PRESSURE FOR THE REST OF 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In an interview with Hellenic Shipping News Worldwide, Mr. Yannis Pachoulis, President of the Hellenic Shipbrokers' Association, remains cautiously ...
Sunday, 29 July 12
FREIGHT MARKET MOMENTUM CONTINUES TO WEAK
COALspot.com - The freight market continued to soft this week with all the segments dropped and the BDI fell below 1,000 points and closed at 933 po ...
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- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
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