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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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Thursday, 15 September 11
BOTSWANA COAL AND ENERGY CONFERENCE 2011
Press Release - Botswana Coal and Energy Conference 2011 | 29-30 November 2011 | Gaborone. Botswana represents Africa’s exciting new coal and ...
Thursday, 15 September 11
DRY BULK MARKET EDGING FURTHER UP THE SCALE, CLOSING IN ON 2,000 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was up once again yesterday, reaching 1,927 points, or 1.375 higher on the day. Thus, it has kept its rising trend established d ...
Wednesday, 14 September 11
INDO STRAITS BAGS 2.4 MILLION TON COAL TRANSPORTATION CONTRACT FROM ARUTMIN
COALspot.com - PT Indo Straits Tbk (PTIS) bagged a contract to tranship about 2.40 million tons of coal over an initial period of 6 months fro ...
Wednesday, 14 September 11
DUTA PERTIWI DISCOVERS COAL RESERVE - INSIDER STORIES
Insider Stories reported that, PT Duta Pertiwi Nusantara Tbk (DPNS) yesterday steeply jumped 24.56% to Rp710 a share after the company discove ...
Wednesday, 14 September 11
GOVT SETS SEPTEMBER COAL REFERENCE PRICE AT $116.26 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the September 2011 coal reference price at US$ 116.26 per ton slightly ...
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- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Australian Coal Association
- India Bulls Power Limited - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
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