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Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
 Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” or the “Company”) is pleased to announce that as a follow up to our announcement dated 7 October 2011, the Company and another Bakrie related entity, Long Haul Holdings (“LHH” - collectively known as “Bakrie Group”), has embarked on a strategic partnership with PT Borneo Lumbung Energi & Metal Tbk (“BORN”) with the signing of a Sales and Purchase Agreement (“SPA”) which took place in Jakarta on 31 October 2011.
Under the terms of the SPA and upon completion of the transaction, Bakrie Group and BORN will own indirectly 47.6% shareholding in London listed Bumi plc, which in return owns direct and indirect investments in PT Bumi Resources Tbk, PT Berau Coal Energy Tbk and PT Bumi Resources Minerals Tbk.
The transaction is valued at USD 1 billion which values Bumi plc’s shares at approximately GBP10.91 at the date of announcement, representing a premium of:
• Approximately 46% to the closing price of Bumi plc’s shares on the LSE on 28 October 2011 and approximately 45% premium to the last 20-day volumeweighted average trading price of Bumi plc’s shares.
• Approximately 5% premium to the last 6 month volume-weighted average trading price of approximately GBP10.34
The consideration will be payable in cash and Bakrie Group will use the proceeds from the transaction to pay down a financing facility initially coordinated by CS (“CS Loan”), therefore reducing BNBR’s overall debt position considerably.
Bakrie Group expects to complete the transaction on or around the end of December 2011 following BORN shareholders approving the transaction and satisfaction of regulatory and other approvals.
“This transaction is another important step forward for the Company as it enhances our objectives for the creation of an “Indonesia Inc.” in an international mining company. The deleveraging aspect of this transaction is also important as it provides BNBR with a healthier and stronger balance sheet. Furthermore, we have again demonstrated our commitment to meet our creditors’ obligations and highly appreciate their support towards BNBR especially during these volatile market conditions,” said Bobby Gafur Umar, President Director and CEO of BNBR.
BNBR will make appropriate disclosures upon completion of all relevant documentation and approvals.
Credit Suisse assisted BNBR in a financial advisory capacity
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Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
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- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- PTC India Limited - India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- White Energy Company Limited
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
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