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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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Tuesday, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
Monday, 22 August 11
NTPC TO IMPORT 16 MILLION TON OF COAL TO BRIDGE THE GAP
COALspot.com - NTPC to import 16 million tons of imported coal, which is equivalent to 23-24 million tons of Indian coal to bridge the gap.
" ...
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- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Planning Commission, India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
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