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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, 22 February 12
RAW COMMODITY EXPORT BAN SPARKS SMELTER BUILDING BOOM IN INDONESIA ANTARA / THE JAKARTA GLOBE
Antara / The Jakarta Globe reported that, as the government gears up to ban all exports of unprocessed commodities, Indonesia will see 12 new ...
Tuesday, 21 February 12
THREAT ISSUED ON MINERAL FIRMS AS GOVT PLANS EXPORT BAN - THE JAKARTA POST
The Jakarta Post, one of the leading english news papaer in Indonesia reported that, the government has given mineral producers three months to subm ...
Monday, 20 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU
The dry market experienced one more disappointing week with tonnage oversupply and limited cargo demand that pushes earnings for shipping players to ...
Monday, 20 February 12
JATENERGY SECURES FIRST 8000-TONNE COAL SALES CONTRACT FOR JONGKANG MINES
8000-tonne contract with Singaporean buyer signed for March delivery
50% down payment due in five working days
Production continues at both Jongka ...
Monday, 20 February 12
DIAN SWASTATIKA ACQUIRES ANDALAN LESTARI - INSIDER STORIES
Insider Stories reported that, PT Dian Swastatika Sentosa Tbk (DSSA), controlled by Fuganto Widjaja, son of Indra Widjaja, reported a 99.83% takeove ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
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