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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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- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- The University of Queensland
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
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