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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, 08 June 12
MINISTER DENIES COAL EXPORT TAX PLAN, ENDORSES RESTRICTIONS - THE JAKARTA POST
The Jakarta post, one of the leading english news paper in Indonesia reported that, Energy and Mineral Resources Minister Jero Wacik has denied that ...
Friday, 08 June 12
NO IMMEDIATE IMPACT ON ADARO'S RATING FROM BEP TRANSACTION - FITCH RATINGS
Fitch Ratings has said that PT Adaro Indonesia's (Adaro, 'BB+'/ Stable) ratings are not immediately affected by its parent PT Adaro Energy Tbk's ...
Thursday, 07 June 12
DRY BULK MARKET FALLS FOR 10 STRAIGHT SESSION ON OVERSUPPLY PROBLEMS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A resurgence of oversupply, coupled with national holidays in various parts of the world has contributed to yet another fall of the dry bulk market ...
Thursday, 07 June 12
COAL EXPORT TAX NOT RATIONAL: MINISTER - THE JAKARTA POST
Trade Minister Gita Wirjawan has criticized as irrational the idea to restrict coal exports by imposing an export tax, According to The Jakarta post ...
Thursday, 07 June 12
BY 2022 PLN IS EXPECTED TO BURN AROUND 125 MILLION TONS OF COAL
COALspot.com - Indonesia's state owned electricity company's (PLN) coal consumption is expected to reach 125.7 million tons by 2012.
Nur Pamudj ...
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- Economic Council, Georgia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Planning Commission, India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Australian Coal Association
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
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