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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, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
Tuesday, 06 September 11
INDONESIAS PROPOSED COAL EXPORT BAN MAY HAVE IMPACT ON THE INDIAN POWER SECTOR - DIPESH DIPU
COALspot.com - This is a special interview about Indonesian proposed coal export ban by 2014, with Mr. Dipesh Dipu, Director of Deloitte Touche Tohm ...
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- Global Business Power Corporation, Philippines
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- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
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- Singapore Mercantile Exchange
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- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Eastern Coal Council - USA
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- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
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- Sindya Power Generating Company Private Ltd
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- Ministry of Transport, Egypt
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- PTC India Limited - India
- Siam City Cement PLC, Thailand
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- Sojitz Corporation - Japan
- London Commodity Brokers - England
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- Pipit Mutiara Jaya. PT, Indonesia
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- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
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- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
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- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
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- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
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- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
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- Trasteel International SA, Italy
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- Aditya Birla Group - India
- Ministry of Finance - Indonesia
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- Siam City Cement - Thailand
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- Bulk Trading Sa - Switzerland
- Australian Coal Association
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- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
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