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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, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
Friday, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 ye ...
Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index ( ...
Wednesday, 30 May 12
ORPHEUS RAISES $2.24M TO ADVANCE INDONESIAN COAL PRODUCTION ASSETS
• $2.24 million raised from a placement to new and existing institutional and sophisticated investors from Australia and overseas
• Funds ...
Wednesday, 30 May 12
ARPENI SECURES TRANSSHIPMENT CONTRACT FROM BARUNA DIRGA
Insider Stories reported that, shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 millio ...
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- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
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