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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, 20 September 11
MTD INAUGURATES ITS COAL TERMINAL IN JAVA ISLAND
Press Release – MTD Group of Malaysia, one of prominent key players in the development of infrastructure in Malaysia, today inaugurated their ...
Tuesday, 20 September 11
DRY BULK MARKET LOSING ITS EDGE, RETREATING AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a surge during the past couple of weeks, which saw Capesize earnings boosted and the BDI (Baltic Dry Index) reaching levels of year high and c ...
Monday, 19 September 11
CHINA IMPORTS MORE THAN 10 MMT INDO COAL IN AUGUST 2011
COALspot.com - Indonesian coal exports dropped 1.642 million tons in August compared to July exports. Indonesia exports 29.662 million tons of coal ...
Monday, 19 September 11
INDOMOBIL ENTERING INTO COAL MINING BUSINESS
COALspot.Com- PT Indomobil Sukses Internasional Tbk, part of, one of Indonesia's largest conglomerates, to enter into mining industry ac ...
Sunday, 18 September 11
THE COAL IMPORTS TO INDIA, OUT OF INDONESIA LIKELY TO PICK UP - CAPT. REDDY
COALspot.com - The freight market continued the upward trend until midweek almost touching 2,000 points, however towards second half of the week the ...
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- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Australian Coal Association
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- White Energy Company Limited
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- PTC India Limited - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
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