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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, 09 March 12
SHIP OWNERS LOOKING TO CHINA FOR REVIVAL, WHILE THEY KEEP SELLING OLD SHIPS FOR SCRAP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With China’s economic policy plan for the future on every ship owner’s mind, at least those involved in the dry bulk industry, the lates ...
Thursday, 08 March 12
INDONESIA'S COAL SECTOR CAN BENEFIT FROM CLEARER REGULATIONS - FITCH RATINGS
Fitch Ratings says Indonesia's coal mining sector should continue to see strong growth prospects but can benefit from clearer and more predictable ...
Thursday, 08 March 12
DRY BULK MARKET ON THE RISE; CHINAS COAL IMPORTS COULD INCREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on rising back to healthier levels yesterday, with the BDI (Baltic Dry Index) the industry’s benchmark, marking its 8 ...
Wednesday, 07 March 12
INDONESIA COAL BENCHMARK PRICE GAINS FOR SECOND MONTH
COALspot.com - Indonesia raised the monthly coal reference price for sales in March by 1.15 percent, the second increase since February.
The Mini ...
Wednesday, 07 March 12
INDONESIA TO LIMIT FOREIGN OWNERSHIP IN MINES TO 49 PERCENT WITHIN 10 YEARS OF PRODUCTION
COALspot.com - Foreign holders of mining licenses in Indonesia have to divert 51% of their stakes to Indonesian government or domestic entitie ...
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- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- MS Steel International - UAE
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Planning Commission, India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- The University of Queensland
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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