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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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Thursday, 05 July 12
BUMI ACHIEVES HIGHER SELLING PRICE IN FIRST QUARTER
COALspot.com - PT Bumi Resources Tbk (BUMI), Indonesia's largest coal producer and exporter, has successfully maintained a higher sales margin, des ...
Tuesday, 03 July 12
DRY BULK MARKET INCHED FORWARD AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward at the beginning of the new week, prior to the US holidays regarding the celebration of the 4th of July, which is ...
Monday, 02 July 12
ORPHEUS STRENGTHENS REVENUE STREAM WITH NEW ROYALTY AGREEMENT AT THE B2 COAL PROJECT
Orpheus Energy (ASX:OEG) is pleased to advise that it has executed a life of mine Royalty Agreement with Indonesian mining contractor PT Debbia Mini ...
Monday, 02 July 12
DRY BULK DEMAND TO RISE TO 3.6 BILLION TONNES IN 2012, BUT NEW BUILDING DELIVERIES ARE
In its latest analysis on the dry bulk market fundamentals, DVB Bank said that dry bulk cargo demand is forecast to rise to approximately 3.6 billio ...
Sunday, 01 July 12
AUSTRALIAS CARBON TAX - SUNIL K KUMBHAT
COALspot.com - Climate Change
Climate change and global warming have now become buzzwords the world over. The disastrous consequences for global ...
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- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
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