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.
|
|
Sunday, 28 August 11
FREIGHT MARKET COULD BE FIRM NEXT MONTH - VISTAAR
COALspot.com - The freight market continued the upward trend first half of the week . However, towards the end of the week lost momentum and the BDI ...
Saturday, 27 August 11
JAPANESE BULK CARRIER SETS RECORD ON NORTHERN SEA ROUTE - BARENTS OBSERVER
The Northern Sea Route will see its third record in less than a month when the largest ever bulk carrier to take the route leaves Murmansk next week ...
Saturday, 27 August 11
RBCT-INDIA ROUNDS FIXED AT AROUND US$ 12K - FEARNBULK
Handy
Stable but very positional markets across all segments in the Atlantic: the gap between owners and charterers rate ideas is building up as o ...
Friday, 26 August 11
TUAH TURANGGA AGUNG ACQUIRES AN ADDITIONAL 40% SHARES IN BARA PRIMA AGUNG
COALspot.com - PT Tuah Turangga Agung, a subsidiary of PT United Tractors Tbk, has signed an acquisition agreement to acquire 40% of PT Bara Prima A ...
Friday, 26 August 11
INTRACO EYES US$200 MIO COAL TAKEOVER - INSIDER STORIES
Heavy equipment distributor PT Intraco Penta Tbk, that was founded by Halex Halim, is scouting a coal acquisition with the valuation above US$200 mi ...
|
|
|
Showing 5111 to 5115 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- White Energy Company Limited
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
|
| |
| |
|
