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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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Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
Saturday, 07 January 12
COAL MARKETS SEE FALLING SPOT PRICES
COALspot.com – World’s thermal coal spot prices have slipped this week..
globalCOAL index in Newcastle Port, benchmark for Asian mark ...
Friday, 06 January 12
COAL INDIA LINKED COAL PRICES WITH INTERNATIONAL COAL PRICES
COALspot.com - Consumers of indigenous coal in India to pay International prices in the future. Coal India has recently moved from UHV pricing mecha ...
Friday, 06 January 12
CLARIDEN GLOBAL BRINGS YOU INDONESIA MINING 2012
Capitalizing Business & Investment Opportunities in an Uncertain Market.Press Release - Clariden Global brings you Indonesia Mining 2012, the dedi ...
Friday, 06 January 12
THE PANAMAX MARKET EXPERIENCED A SLOW START TO 2012 - FEARNLEYS AS
Handy
As usual after a holiday owners and charterers both try to get a feel of the market. An Armada of Supras were talking to ballast towards USG, ...
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- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- The University of Queensland
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Australian Coal Association
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- PTC India Limited - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Deloitte Consulting - India
- Planning Commission, India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
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