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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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Sunday, 09 October 11
FREIGHT MARKET ENDED WITH A POSITIVE DIRECTION - VISTAAR
COALspot.com - The market ended with a positive note with all the segments up except for handy size. The biggest gainer was Panamax index up by 11 p ...
Saturday, 08 October 11
INDONESIAN MINER PLANS $167M IPO TO FUEL SUMATRA COAL BOOM - JG
The Jakarta Globe reported that, coal miner Atlas Resources aims to raise as much as Rp 1.5 trillion ($167 million) in an initial public offering to ...
Friday, 07 October 11
MINING REGULATIONS , OBSTACLES AND GROWTH : INDIA VS INDONESIA - SUNIL K KUMBHAT
COALspot.com - The Govt of India has passed long pending Mines & Minerals (Regulation and Development) Bill, 2011, which seeks to replace ...
Friday, 07 October 11
$100M FOR EXPANSION INTO KALIMANTAN MINING: AKR
The Jakarta Globe, one of the leading English news paper in Indonesia reported that, AKR Corporindo, a fuel and chemical distributor, has set aside ...
Thursday, 06 October 11
REALM SECURES 51% OF KATINGAN RIA COAL PROJECT IN CENTRAL KALIMANTAN
•Realm secures 51% of PT Katingan Ria Thermal Coal Project in Central Kalimantan
•Realm takes ownership of Kalres Limited
•Acquisit ...
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- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- White Energy Company Limited
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- The University of Queensland
- Anglo American - United Kingdom
- MS Steel International - UAE
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
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