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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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Monday, 22 August 11
MACRO ECONOMICS - PETER SAND BIMCO / HELLENIC SHIPPING
The US is jeopardising the global recovery as job creation remains top challenge across the board.
Global economy: While growth in most emerging ...
Sunday, 21 August 11
SUPRAMAX AVAILABILITY WAS TIGHT DUE TO UPCOMING RAMADAN HOLIDAYS
COALspot.com - The financial markets have been in turmoil with all major stock exchanges down and uncertainty prevails. However the shipping market ...
Sunday, 21 August 11
TUAH TURANGGA ACQUIRES DUTA NURCAHYA
Coal miner PT Tuah Turangga Agung, a wholly owned subsidiary of PT United Tractors Tbk (UNTR) via PT Pamapersada Nusantara), has agreed to acquire 6 ...
Friday, 19 August 11
INDIAS CICTL HAS ACHIEVED ONE MILLION TONS OF DISCHARGE
COALspot.com - Chettinad International Coal Terminal (CICTL) in Ennore port, a state of the art mechanized coal terminal, which was inaugurated on 28t ...
Friday, 19 August 11
AUSTRALIAS' ATH TO ACQUIRE 60% OF APUAH COAL MINE IN INDONESIA
COALspot.com - Australian listed company, Atech Holdings Limited (ATH) has entered into a conditional binding term sheet to acquire 60 percent stake ...
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- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Barasentosa Lestari - Indonesia
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