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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, 05 December 11
THE DECEMBER HBA FELL 11% FROM ITS PEAK AT US$127.05 PER TON IN FEBRUARY 2011
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the December 2011 coal reference price at US$ 112.67 per ton US$ 3.98 ...
Monday, 05 December 11
SGX LAUNCHED IHS MCCLOSKEY/XINHUA INFOLINK OTC CFR SOUTH CHINA COAL CONTRACT TODAY
COALspot.com - In order to meet the demand of the coal industry for an effective coal hedging tool with counterparty credit risk mitigation facility ...
Monday, 05 December 11
DRY BULK RATES LOOKING TO EXTEND GAINS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize dry bulk carrier owners have had a great week, with rates rising for six straight sessions (including the end of the week before that). As ...
Sunday, 04 December 11
SUPRAMAX TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7500 - 8000 PD
COALspot.com - The BDI and Cape index recovered this week. The BDI was up by 3.26 pct and Cape index saw a big jump and closed at 3409 points (up by ...
Saturday, 03 December 11
BORNEO TO SPEND US$600 MIO CAPEX - INSIDER STORIES
Insider Stories reported that, Coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) plans to spend US$600 million capital expenditure ( ...
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- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Australian Coal Association
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Aditya Birla Group - India
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