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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, 25 August 11
OPG EXPECTS COAL PRICES TO REMAIN FIRM IN THE SHORT TERM
COALspot.com - Revenue of OPG, the developer and operator of Group Captive power plants in India up 188% to £33.15m and Income from continuing ...
Thursday, 25 August 11
PAITON POWER LOOKING FOR 3.96 MILLION TONS OF COAL
COALspot.com - PT Pembangkit Jawa Bali (PJB) is looking for 3.96 million tons coal with calorific value 4,800 kcal/kg on as received basis. Accordin ...
Tuesday, 23 August 11
ICMA CALLS GOVERNMENT TO REVIEW EXPORT BAN REGULATION
COALspot.com - Chairman of the Indonesian Coal Mining Association (ICMA) Bob Kamandanu asks the government to review the regulation that being draft ...
Tuesday, 23 August 11
ADARO ENERGY ACQUIRES 75% STAKE OF PT MUSTIKA INDAH PERMAI FOR US$ 222.5 MILLION
COALspot.com - PT Alam Tri Abadi, a wholly owned subsidiary of PT Adaro Energy Tbk, signed a share purchase agreement to acquire a 75% stake of PT M ...
Tuesday, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
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- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Planning Commission, India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
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