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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, 06 April 12
DRY BULK MARKET SWIFT TO HALT FALL ON RENEWED DEMAND FOR CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk managed to put a stop to the recent falls, which came as a result of a lacklustre demand for smaller vessel sizes. Although this trend ...
Thursday, 05 April 12
COAL EXPORT TAX: MATTER OF CONCERN FOR INDIA - SUNIL K KUMBHAT
COALspot.com - Since the issuance of Indonesian Mining law in 2009, miners have increased their activities in exploring , ex ...
Thursday, 05 April 12
AKR COAL FIRST EXPORT SHIPMENT OF COAL SEABORNE
PT Anugrah Karya Raya (AKR Coal) subsidiary of PT AKR Corporindo Tbk., Indonesia’s leading integrated supply chain solutions provider and larg ...
Thursday, 05 April 12
DRY BULK MARKET STALLS AS TREND IS REVERSED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has halted its month-long rally, with the BDI (Baltic Dry Index) retreating yesterday for a second consecutive session. Industry ...
Wednesday, 04 April 12
OIL MAY JUMP TO $150PB IF IRAN ATTACKED: EXPERT - KUNA / HELLENIC SHIPPING
Prices of oil will not drop below level of $100 per barrel and may jump to $150 pb in the coming two months, according to the prominent Kuwaiti expe ...
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- Bhatia International Limited - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
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