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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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Friday, 30 September 11
INDIAN IRON ORE MARKET GETTING ACTIVE - FEARNLEYS AS
Handy
The Atlantic market continued its strong trend with fresh cargoes entering the market. Vessels open US Gulf fixed tick above US$ 27k back to t ...
Friday, 30 September 11
KRISHNAPATNAM PORT WINS GLOBAL PORT & COAL PORT OF THE YEAR AWARDS
COALspot.com - Krishnapatnam Port, a dynamic new generation world class port located in the East Coast of India has been adjudged the winner in the ...
Thursday, 29 September 11
INDONESIA'S MINERS FACE AN UNCERTAIN FUTURE - RUPERT WALKER
An evolving regulatory framework for the country's minerals industry could threaten its profitability and stifle investment.
The five-year surge ...
Thursday, 29 September 11
DRY BULK MARKET FALLS MID-WEEK, FURTHER DROP EXPECTED NEXT WEEK ON CHINA HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected by the Baltic Dry Index (BDI) retreated by 0.36% yesterday reaching 1,920 points, with the Capesize segment suffer ...
Wednesday, 28 September 11
ATLAS RESOURCES TO SELL 25% STAKE IN IPO - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, plans to sell 783.33 m ...
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- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- The University of Queensland
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- ASAPP Information Group - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Deloitte Consulting - India
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