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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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Tuesday, 27 September 11
A STRONG REBOUND FOR THE CAPE MARKET - BRS
A strong rebound for the Cape market, as cargoes continued to flow into the market and tonnage remained tight in the Atlantic, according to Barry Ro ...
Tuesday, 27 September 11
INTRACO SEALS US$25.3 MIO ORDER - INSIDER STORIES
Insider Stories reported that, Heavy equipment distributor PT Intraco Penta Tbk (INTA) obtained a US$25.3 million order on hand of heavy equipments ...
Sunday, 25 September 11
THE CHARTER RATES FOR INDONESIA TO INDIA WAS FIRM - VISTAAR
COALspot.com - The freight market moved up sharply with the cape Index up by 11 pct pushing the BDI by almost 6 pct and closing at 1,920 point ...
Saturday, 24 September 11
GOVT PLANS TO RENEGOTIATE ALL CONTRACTS INCLUDING FREEPORT - JP
The Jakarta Post reported that, the Energy and Mineral Resources Ministry has confirmed plans to renegotiate all mining contracts including those wi ...
Friday, 23 September 11
ICMA TO BUILD UPGRADE FACILITIES TO ANTICIPATE BAN ON LOW-GRADE COAL EXPORT BY 2014
COALspot.com - January to August of this year, Indonesia’s coal production had already reached 235 million tons. Earlier estimates had targete ...
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- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Planning Commission, India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- PTC India Limited - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
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