We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 23 September 11
UT TO PRODUCE 7 MMT OF COAL BY 2012
PT United Tractors Tbk is targeting a 7 million tons of coal production next year, a 55.55% increase from 4.5 millions targeted this year, said Pres ...
Friday, 23 September 11
RECORD RECYCLING ACTIVITY STIRS OPTIMISM IN DRY BULK SAYS BIMCOS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected at the start of the year, dry bulk ship owners were expected to flock scrapyards around the world, in order to take advantage of attract ...
Friday, 23 September 11
PANAMAX EXPERIENCED A SOFTENING IN RATES - FEARNLEYS AS
Handy
Still a good boost of fresh cargoes entering the market. Vessels in Black Sea with GOA clearance and Baltic positions are fetching tick abov ...
Wednesday, 21 September 11
INDIA'S COAL IMPORTS FROM INDONESIA FALL, CHINA BUYS MORE
COALspot.com - Indian coal imports from Indonesia fall to below 6 million tons in August, and this fall was continuing last few months. Ho ...
Wednesday, 21 September 11
2ND ANNUAL SHALE GAS SUMMIT
2nd Annual Shale Gas Summit 31 October – 3 November 2011 JW Marriott Hotel, Hong Kong
According to a recent EI ...
|
|
|
Showing 5066 to 5070 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
|
| |
| |
|
