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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, 01 March 12
BUKIT ASAM TARGETS EUROPEAN INVESTORS
COALspot.com - PT. Bukit Asam (persero) Tbk, Indonesian state owned coal miner is planning to conduct road show in Europe next week to target at Eur ...
Thursday, 01 March 12
INDO-INDIA, LARGE ECO SUPRA CAN FETCH CLOSE TO USD 9K DOP N.CHINA - FEARNLEYS AS
Handy
The Atlantic Handysize market did not see any signs for recovery this week. It is still a major lack of spot cargoes and an oversupply of pro ...
Wednesday, 29 February 12
69 MINERS AGREE TO RENEGOTIATE CONTRACTS - THE JAKARTA POST
The Jakarta Post, one of the leading English news papaer in Indonesia reported that, as many as 60 coal contracts-of-work (PKP2B) and nine non-coal ...
Wednesday, 29 February 12
PUTTING COAL GASIFICATION TO WORK
Clifford Reese of the SSOE Group looks at practical solutions for district energy leaders who wish to implement clean coal technology.
Coal fuels ...
Monday, 27 February 12
COAL MINING PROFITS TOO HIGH, SAYS GOVT - TEMPO INTERACTIVE
Tempo Interactive reported that, Energy and Mineral Resources Deputy Minister of Indonesia Widjajono Partowidagdo has criticized coal-mining compani ...
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- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
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