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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
Sunday, 22 January 12
FREIGHT MARKET DROPPED TO THE LOWEST LEVEL SINCE 2008
COALspot.com - "The markets continued to soften almost reaching 2008 levels breaking the 1,000 point mark", said Capt. Reddy of Vistaar Sh ...
Saturday, 21 January 12
ASIAS PREMIER COMPREHENSIVE OPEN CUT MINING CONFERENCE SCHEDULED FOR FEBRUARY 2012
As the only such conference in the region for miners and service providers, IBC Asia’s Open Cut Mine Planning & Operational Excellence con ...
Saturday, 21 January 12
COAL MARKETS CELEBRATES A DECADE OF BRINGING BUYERS & SELLERS TOGETHER
In 2012, IBC Asia’s premier Coal Markets conference series – Asia’s only globally focused coal import, export and supply chain eve ...
Saturday, 21 January 12
SAMIN TAN COMPLETES BUMI PLC TAKEOVER - INSIDER STORIES
Insider Stories reported that, Indonesian coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN), that is controlled by stellar businessm ...
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- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- The University of Queensland
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Parliament of New Zealand
- Economic Council, Georgia
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
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