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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, 08 November 11
COAL MINER ABM INVESTAMA PLANS $290M PUBLIC OFFERING - JG
The Jakarta Globe reported that, ABM Investama, an Indonesian coal miner controlled by the Hamami family, plans to raise as much as Rp 2.6 trillion ...
Monday, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
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- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Thai Mozambique Logistica
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
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