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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, 23 July 12
NTPC INVITES BIDS FOR 2.6 MILLION TONS OF LOW MOISTURE IMPORTED COAL
COALspot.com - India’s largest electricity generator, NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government ...
Sunday, 22 July 12
NEW CHAIRMAN FOR AUSTRALIAN COAL ASSOCIATION
The Australian Coal Association (ACA) announced that Mr Ross Willims has been appointed as its new independent Chairman effective November 5 2012. M ...
Sunday, 22 July 12
CENTRAL KALIMANTAN COAL RAILWAY NETWORK WILL BE BUILT BY 2015 - THE BORNEO POST
The borneo post reported that, a declaration to build a coal railway network is signed today (12/07/2012) in front of the Indonesian Vice President ...
Sunday, 22 July 12
COAL PRICES IN MIXED TRENDS; STOCKS REMAIN HIGH AT BOTH ENDS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery fell 0.99 percent on last Friday closing (d-o-d) and 1.19 percent com ...
Sunday, 22 July 12
TATA POWER SIGNS A LONG TERM COAL SUPPLY AGREEMENT WITH PT ANTANG GUNUNG MERATUS, INDONESIA
COALspot.com - Tata Power, India’s largest integrated power utility, last Friday announced that it has signed a long term coal suppl ...
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- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- White Energy Company Limited
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- PTC India Limited - India
- Malabar Cements Ltd - India
- MS Steel International - UAE
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
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