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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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Friday, 19 August 11
INDIA IMPORTS LESS INDONESIAN COAL THAN CHINA IN JULY
COALspot.com - Indonesia shipped 31.30 Million tons of coal in July 2011, up by 10.69 percent compared to June's export of about 28.27 ...
Thursday, 18 August 11
INDONESIAS PROPOSED LOW GRADE COAL EXPORT BAN WILL NOT HAVE A SIGNIFICANT IMPACT ON INDIA - MISWIN MAHESH
COALspot.com - The Indonesian government is currently in the process of drafting a new regulation that could ban the export of low-grade coal by Jan ...
Thursday, 18 August 11
MARUBENI ACQUIRED 42.86% OF YTL JAWA POWER
COALspot.com - Marubeni Corporation (Marubeni) has completed the acquisition of 42.86 percent of the shares of YTL Jawa Power Holdings BV from YTL P ...
Wednesday, 17 August 11
CME LAUNCHES ARGUS COKING COAL SWAP FUTURES
COALspot.com - Argus media reported that, leading exchange CME Group will list an Australian coking coal swap futures contract for trading on the Ny ...
Wednesday, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
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- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- PTC India Limited - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
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