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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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Wednesday, 07 March 12
ASSESS ASIAS POTENTIAL, DEVELOPMENTS AND APPETITE FOR SHALE AT SHALE GAS SUMMIT
Press Release - Assess Asia’s Potential, Developments and Appetite for Shale at Shale Gas Summit on 23-24 Apr, 2012 in Beijing
China is rep ...
Wednesday, 07 March 12
3RD MOZAMBIQUE COAL CONFERENCE
3rd Mozambique Coal Conference
2-4 July 2012 | Joaquim Chissano International Conference Centre , Maputo, Mozambique
http://www.immevents.com/mo ...
Wednesday, 07 March 12
DRY BULK MARKET KEEPS UP TIMID REBOUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its rising momentum yesterday, rising for the eighth straight session, on the back of renewed demand for smaller bulk c ...
Wednesday, 07 March 12
BUKIT ASAM EYES 39% RISE IN COAL SALES - INSIDER STORIES
Insider Stories reported that, PT Bukit Asam Tbk is scouting a 39% increase in coal sales volume to 18.66 million tons this year from last year with ...
Wednesday, 07 March 12
PETROSEA SEALS US$188 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, coal mining contractor PT Petrosea Tbk has secured a US$188 million additional contract from its affiliated firm PT S ...
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- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
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