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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, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
Thursday, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Tuesday, 06 December 11
DRY BULK MARKET ENDS RALLY, STARTS WEEK WITH FALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a series of increases which saw the dry bulk market’s benchmark, the Baltic Dry Index (BDI) increasing close to 1,900 points and rates o ...
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- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
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