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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, 26 April 12
BUKIT ASAMS 1Q OPERATING PROFIT MARGIN HAS INCREASED BY 6% TO RP. 1 TRILLION
COALspot.com - PT. Bukit Asam (Persero), the Indonesia’s state owned coal miner's 1Q, 2012 revenue has increased by 31% to Rp. 3.02 trillion ...
Thursday, 26 April 12
TAIPOWER TO BUY 1.15 MILLION TONS OF 5000 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 1.125million tons of sub-bituminous coal for Taipower thermal power plant through open tender ...
Thursday, 26 April 12
TAIPOWER TO BUY 375,000 MT OF 4800 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 375,000 metric tons of low sulfur sub-bituminous coal for Taipower thermal power plant ...
Thursday, 26 April 12
ADK SHIPPED 28,000 TONNES OF COAL THIS MONTH
COALspot.com - Orpheus Energy (ASX:OEG) has announced that four coal barges carrying a total of approximately 28,000 tonnes of ADK (Alam Duta K ...
Thursday, 26 April 12
DRY BULK CARRIERS RENTER FLEET AFTER IDLING, ON MARKETS RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be back on track, not only solidifying the gains of the past couple of weeks, but also racing to new heights, recuperra ...
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- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- The University of Queensland
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- CNBM International Corporation - China
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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