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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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Monday, 20 February 12
COAL BOOM AND ENVIRONMENTAL CONCERN - SUNIL K KUMBHAT
COALspot.com - The dawn of the 21st century has seen a shift in the world's commercial balance of power, with the dominance of the US, Europe and J ...
Sunday, 19 February 12
THE SPOT FIXTURE RATES WERE REPORTED AT HIGH LEVELS - VISTAAR
COALspot.com - "The markets seems to holding back this week appears the momentum which picked up last week may slow down" - Capt. Reddy of ...
Sunday, 19 February 12
INDIKA ACQUIRES MULTI TAMBANGJAYA - INSIDER STORIES
Insider Stories reported that, PT Indika Energy Tbk (INDY) announced that wholly-owned subsidiaries have signed a conditional sale and purchase agre ...
Friday, 17 February 12
COLOMBIA COAL PRODUCTION, EXPORTS JUMP IN 2011: GOVT - COLOMBIA REPORTS
Colombia Reports reported that, colombia's coal production jumped 15.4% in 2011 to 85.8 million tonnes versus the previous year while exports rose ...
Thursday, 16 February 12
GEARING UP FOR THE EMERGING OIL & GAS OPPORTUNITIES IN MYANMAR
Press Release - Myanmar Ministry of Energy and Centre for Management Technology (CMT) to Co-host MOGP (Myanmar Oil, Gas & Power) Summit on 28 - ...
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- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Mercator Lines Limited - India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
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