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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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Tuesday, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
Sunday, 29 April 12
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The BDI continued to go up with the support of Panamax/Supramax and was up by 8.34 pct closing at 1,156 points.
The cape index was ...
Sunday, 29 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS FOR MAY 2012 DELIVERY WAS STABLE THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps for May deliveries stable this week, according to DSP of SGX AsiaClear OTC Coal Swaps. In the me ...
Friday, 27 April 12
BUKIT ASAMS NET INCOME UP 14% IN 1Q 2012 (UNAUDITED)
Press Release - PT Bukit Asam (Persero) Tbk, announced the Consolidated Financial Statements and Subsidiaries per 31 March 2012 (Unaudited).
Reve ...
Thursday, 26 April 12
AUSTRALIAS COKAL EXPANDS MET COAL POTENTIAL INTO WEST KALIMANTAN
COALspot.com - Global metallurgical coal group Cokal Limited (Cokal) (ASX:CKA) announced today it has completed the acquisition of 75.2% of PT Silan ...
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- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- PTC India Limited - India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
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