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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, 20 October 11
BRACKEN INTERNATIONAL MINING LISTS ON FRANKFURT STOCK EXCHANGE
Press Release - Bracken International Mining (Code:1BM) listed on the Deutsche Börse’s Frankfurt Stock Exchange today at €1.00 with ...
Thursday, 20 October 11
CAPESIZES, SUPRAMAXES LEAD GAINS FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Struggling to find additional support, but still managing to post gains, the dry bulk market has stabilized itself on higher levels again yesterday, ...
Wednesday, 19 October 11
METALLURGICAL COAL PRICES TO DROP BELOW US$240/TONNE - WOOD MACKENZIE
Wood Mackenzie Says Metallurgical Coal Prices to Drop Below US$240/tonne by Q4 2012 But Long-term Demand Fundamentals Remain Robust
Wood Mackenzi ...
Wednesday, 19 October 11
SUPRAMAX MARKET WAS VERY FIRM LAST WEEK - BRS
With all sectors contributing positively, the BDI ended the week at 2,173 points (+8.6%), its highest level so far in 2011. The BCI stood at 3,587 ( ...
Wednesday, 19 October 11
ADARO ACQUIRES BUKIT ENIM ENERGI - INSIDER STORIES
Insider Stories reported that, Coal miner PT Adaro Energy Tbk, via its subsidiary dubbed PT Alam Tri Abadi, today revealed a 46% stake takeover of a ...
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- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- The University of Queensland
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
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