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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, 19 January 12
SOUTHGOBI RESOURCES SELLS MORE THAN FOUR MILLION TONNES OF COAL IN 2011, 58% MORE THAN 2010
COALspot.com - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) has successfully complets year 2011 on guidance in terms of coal sales and production.
...
Thursday, 19 January 12
14TH VOGP MEETING IN HO CHI MINH CITY HANDS OUT LATEST UPDATES AND DEVELOPMENTS IN VIETNAM'S ENERGY INDUSTRY
Press Release: At upcoming 14th Vietnam Oil Gas Power on 27-28 Feb in Ho Chi Minh City the industry’s most influential names including Petrovi ...
Thursday, 19 January 12
DELTA DUNIA SEALS US$820 MIO CONTRACT INSIDER STORIES
Insider Stories reported that, PT Delta Dunia Makmur Tbk (DOID) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ( ...
Wednesday, 18 January 12
WARM WINTER ACROSS EUROPE HAS IMPACTED NEGATIVELY COAL DEMAND - BRS
With the Chinese New Year just a week away, all markets are slowing down. The drop in freight rates for all sizes has been significant over the past ...
Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benc ...
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- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- The University of Queensland
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Eastern Energy - Thailand
- GMR Energy Limited - India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
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