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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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Saturday, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Friday, 02 September 11
CAPESIZE DEMAND LIFTS DRY BULK MARKET ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what proves to be the best week of the year for Capesize owners, strong demand has helped propel the dry bulk market to new highs yesterday. The ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry ...
Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
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- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- VISA Power Limited - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
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